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Comcast bids $44.5bn for AT&T Broadband
It wasn't for sale, but now it might be...

By Ian Jones

Published: Monday 09 July 2001

US cable television giant Comcast has offered AT&T a whopping $44.5bn for its broadband division.

The all-stock bid would involve Comcast taking on $13.5bn of AT&T's outstanding debts, but does call into question the US telecoms giant's long-term plan to dominate the domestic market for local phone services and high-speed internet access.

AT&T reportedly confirmed that the two companies have been in talks over recent weeks, but said it has no plans to sell the division.

Despite its protestations though, the company has left the door to a buyout slightly ajar. It stated that it will consider the offer, and will do what it believes is best for AT&T shareholders.