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AOL gets intimate with AT&T over sale talks
Hopes are getting high...

By Sonya Rabbitte

Published: Friday 16 November 2001

AOL Time Warner has signed a confidentiality pact with AT&T as talks continue between the two companies on the sale of AT&T's cable TV division.

AT&T originally planned to spin off its cable TV unit earlier this year, but postponed the move in July after rejecting a $44.5bn offer from US cable provider Comcast.

The confidentiality clause will allow the two companies to exchange sensitive business details, an essential move if AOL is to make a bid.

Following the failed Comcast bid, AT&T set a 30 November deadline for additional bids, although AOL Time Warner is thought to be the front runner.