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AT&T extends deadline for Time Warner merger deal

AT&T extends deadline for Time Warner merger deal
The two companies began the merger talks a year ago

Mubasher: AT&T announced that it has extended by a short period the deadline to close its proposed deal to acquire Time Warner, Reuters reported on Monday.

The company is trying to buy time to get the required regulatory approvals for the deal, as the deal had a termination date of 22 October.

According to the Financial Times, the deal cleared last week its penultimate hurdle after obtaining approval from the Brazilian antitrust authority, after it already obtained clearances from regulators in Europe, Chile and Mexico.

The only remaining needed approval is that of the US Department of Justice, where the confirmation of President Trump’s nominee for the head of the department’s antitrust division was held up for a month between August and September by opposition from Democratic senator Elizabeth Warren, the FT noted.

AT&T previously said that is expecting the merger to be completed before the end of the year.