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AT&T close to buying Time Warner but Apple may step in


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AT&T close to buying Time Warner but Apple may step in

It will be the merger of the year and one of the biggest in Wall Street history if it comes off, but industry voices say a deal between telecoms giant AT&T and Time Warner could be inked as early as Sunday.

It is such a significant deal Apple is reportedly keeping a close eye on proceedings, which raises the possibility of a counter-bid. AT&T are reportedly offering 110 dollars a share for a total of 85 billion dollars, a sum that Time Warner rejected only last year from another suitor.

If the bid is successful, AT&T will have transformed itself into a media giant, as it bought
satellite TV company DirecTV last year for 48.5 billion dollars, and is busy investing in media businesses and video streaming services.

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