Tci And At&T May Connect, But Can They Work?

John Malone and Mike Armstrong are about to hatch some big deals

In January, as he made his first major presentation to Wall Street analysts, AT&T CEO C. Michael Armstrong found himself violating the company's policy of not commenting on possible deals. The reason? The market buzz about a merger with Tele-Communications Inc. (TCI) had become a roar. "We won't be announcing a cable acquisition at the end of the meeting or in the near future," he told the crowd.

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