REUTERS: AT&T Inc shareholder Elliott Management Corp on Monday questioned the wireless carrier's US$85 billion takeover of Time Warner and called for it to sell non-core businesses to boost its stock price, driving shares in the company up 10per cent.
"Despite nearly 600 days passing between signing and closing , AT&T has yet to articulate a clear strategic rationale for why AT&T needs to own Time Warner," Elliott said in a letter to the company's board of directors. HBO is in the process of launching its own streaming service to take on the likes of Netflix Amazon.com Inc's Prime video and upcoming services from Walt Disney and Apple Inc .
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