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WASHINGTON (Reuters) – The US Department of Justice (DoJ) announced on Thursday night its intention to appeal a federal judge's decision to allow Time Warner to be taken over by AT & T's telecom operator. , 4 billion dollars (73.2 billion euros)
The DoJ did not specify the grounds on which it supports its appeal and AT & T declined to comment immediately
The title AT & T yielded 1.3% to 31.80 dollars in post-Exchange trading on Wall Street in reaction to this announcement likely to call into question the acquisition of Time Warner.
Judge Richard Leon, of District of Columbia, gave its green light unconditionally on June 13th. The DoJ had indicated that it would not dispute the decision in the immediate future, but had given itself 60 days to appeal.
AT & T finalized the acquisition on June 14, while accepting to house Time Warner in a separate subsidiary for a possible appeal.
The proposed merger, announced in October 2016, was decried by then-White House president Donald Trump on the grounds that he was dangerous for democracy.
The Department of Justice had based its complaint on consumer advocacy but Justice Leon had ruled that the consolidation of AT & T's telecommunications business and Time's television and film studios Warner did not pose a competition problem
(David Shepardson, Véronique Tison for French Service)
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