Time Warner shares fall on deal doubts

Time Warner shares fall on deal doubts

Shares in Time Warner closed down on reports that the US Department of Justice will sue AT&T to stop its takeover of the media giant.

Time Warner’s stock finished down 1.1% at $87.71 while AT&T ended marginally higher at $34.64.

Both Reuters and Bloomberg, citing sources, claim that the Department of Justice will file a lawsuit later on Monday.

The Dow Jones Industrial Average closed 72.09 points higher at 23,430.33.

The S&P 500 finished 3.29 points up at 2,582.14 while the Nasdaq ended 7.92 points ahead at 6,790.71.

Oil prices fell with Brent crude down 0.9% at $62.15 a barrel and West Texas Intermediate off 0.6% at $56.36.

Source: BBC News

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