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AT&T boosted by broadband buy-out bid

Share price jumps on the back of $41bn Comcast offer...

By Will Sturgeon

Published: 10 July 2001 07:22 BST

AT&T has seen its share price leap 11.83 per cent on the back of speculation that it is to sell its broadband division to US cable operator Comcast.

AT&T has publicly stated that it has no "current plans" to sell the unit, preferring instead to continue with plans to split its business four ways. This process began in earnest yesterday with the spinning off of its mobile division.

However, AT&T has already held talks with Comcast over the past eight months regarding a sale and while these talks broke down it is thought the $41bn offer from Comcast may yet prove too tempting for AT&T and its investors to turn down.

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