{"id":122286,"date":"2020-11-17T11:03:31","date_gmt":"2020-11-17T11:03:31","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=302229"},"modified":"2020-11-17T11:03:31","modified_gmt":"2020-11-17T11:03:31","slug":"activist-investor-offloads-att-stake","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/11\/17\/activist-investor-offloads-att-stake\/","title":{"rendered":"Activist investor offloads AT&T stake"},"content":{"rendered":"

<\/p>\n

\tElliott Management sold its shares in AT&T, cashing in on its initial $3.2 billion investment after instigating a shake-up at the US operator by attacking management and taking aim at its M&A strategy.<\/p>\n

A regulatory filing released yesterday (16 November) showed Elliott Management sold its shares in AT&T during Q3. US regulation requires investment companies to disclose what stocks they own at the end of each quarter.<\/p>\n

Another filing explained Elliott Management bought the stake during Q3 2019, around the same time it released a statement [1] criticising decision making at the top, including AT&T\u2019s acquisitions of DirecTV and Time Warner.<\/p>\n

At the time, the investor urged the operator to halt M&A activity, shed non-core assets and cut operational costs, among other demands.<\/p>\n

Elliott Management also had issues with John Stankey [2], the board\u2019s choice to replace long-time CEO Randall Stephenson who took the helm in July, though it later accepted the appointment.<\/p>\n

In October 2019, AT&T said it had taken Elliott Management\u2019s suggestions on board [3], pledging not to seek headline acquisitions over three years and shed non-core assets in 2020.<\/p>\n

As part of the shake up, the company completed a sale of fixed and mobile assets in Puerto Rico and US Virgin Islands earlier this month, while it is also reportedly considering the sale [4] of a minority stake in DirecTV.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/att-shareholder-attacks-strategy
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/att-chief-stephenson-brings-retirement-forward
\n[3] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/att-lays-out-strategy-following-investor-criticism
\n[4] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/att-eyes-new-directv-deal-option<\/p>\n\n

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<\/p>","protected":false},"excerpt":{"rendered":"

Elliott Management sold its shares in AT&T, cashing in on its initial $3.2 billion investment …<\/p>\n

The post Activist investor offloads AT&T stake<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":247,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"Activist investor offloads AT&T stake - ITTeacherITFreelance.hk","description":"Elliott Management sold its shares in AT&T, cashing in on its initial $3.2 billion investment ... The post Activist investor offloads AT&T stake appeare"},"footnotes":""},"categories":[11,8],"tags":[6346],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/122286"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/247"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=122286"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/122286\/revisions"}],"predecessor-version":[{"id":122287,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/122286\/revisions\/122287"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=122286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=122286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=122286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}