AT&T appeases activist investor Elliott with three-year strategic plan
CEO Randall Stephenson says AT&T has ‘no sacred cows’ when it comes to reviewing its business portfolio
28 October 2019 - 19:01
New York — AT&T on Monday unveiled a three-year strategic plan that included adding two new board members, selling off up to $10bn worth of noncore businesses in 2020 and paying off all its debt from the purchase of Time Warner, bowing to pressure from activist investor Elliott Management.
The second-largest US mobile carrier by subscribers has struggled with a stagnant stock price as it has spent hundreds of billions on a bet that owning media content, as well as all the ways that people can consume content through their phones, TV and internet, would pay off...
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