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

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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.

Euronews
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