Investing.com – Time Warner (NYSE:TWX) fell Wednesday on president-elect Trump’s stated opposition to $85 bn merger with AT&T (NYSE:T).
Time Warner was off 2.5% at $85.65 in pre-market trade. AT&T was up 0.2% at $37.08.
AT&T is offering $107.50 a share to acquire Time Warner and boost its online content.
Time Warner is trading below the bid price on doubts the deal will get regulatory approval.
During his campaign for the presidency, Trump described the tie-up as an example of a “power structure.”
"It's too much concentration of power in the hands of too few," Trump said.