AT&T planning $50bn bid to take control of satellite giant DirecTV

Tim Wallace
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A TELECOMS megamerger was in the offing last night as AT&T prepares a $50bn (£29.6bn) takeover of DirecTV.

The pair have been known to be in talks since the end of last month, when reports emerged of the negotiations.

DirecTV’s share price has shot up by more than 15 per cent since, to close at $87.16 last night. The $100 per share offering being considered would add a premium of around 15 per cent to that value.

Both firms declined to comment on the negotiations, first reported in the Wall Street Journal.