Short Take: TCI, AT&T trying to head off deal-breaker

TCI and AT&T are tinkering with their $31.7 billion merger proposal in an attempt to keep nervous shareholders from scuttling the deal, the Associated Press reported. Still up in the air is the structure of a new class of stock that could insulate AT&T shareholders from seeing profits drained by massive investments needed to upgrade TCI's cable lines. AT&T stock has fallen more than 13 percent since the merger was announced June 25.

July 13, 1998 7:20 p.m. PT

and AT&T are tinkering with their $31.7 billion merger proposal in an attempt to keep nervous shareholders from scuttling the deal, the Associated Press reported. Still up in the air is the structure of a new class of stock that could insulate AT&T shareholders from seeing profits drained by massive investments needed to upgrade TCI's cable lines. AT&T stock has fallen more than 13 percent since the merger was announced June 25.