Deals
AT&T-Time Warner Deal Challenged by Brazil Antitrust Agency
- Transaction on course to close by end of year, carrier says
- Sky Brasil could fetch $5 billion: Bloomberg Intelligence
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Brazil’s antitrust watchdog said AT&T Inc.’s $85.4 billion deal for Time Warner Inc. poses a high risk to competition, a potential complication that threatens to delay the final approval process.
The transaction as originally presented should be rejected unless the companies agree to changes that may include asset sales, according to a recommendation published Tuesday by the staff of Cade, as the antitrust agency is known. It didn’t specify what properties might need to be divested. The Cade board has until Nov. 22 to issue a final ruling, though that deadline can be extended by 90 days.