Decision time for AT&T

AT&T will this week decide whether to engage in serious discussions with Comcast over its £28bn bid for the giant telco's cable TV networks business.

John Malone, a major shareholder in AT&T, suggested that he would support Comcast's offer in principle, but at a higher price, this morning's Financial Times reports.

Michael Armstrong, AT&T's chairman, also hinted that he would accept a better offer.

The FT quotes Armstrong as saying that Comcast's bid "recognises at least some of the value we've created in AT&T Broadband. The question is whether it recognises all the value."

But Comcast is not alone in eyeing up the business. Cox has been linked with a possible deal, along with Paul Allen's outfit Charter Communications.