AT&T says TCI deal on track

The acquisition should close in the first half of next year, the telco giant discloses in a regulatory filing.

Tech Industry
AT&T expects to close its acquisition of Tele-Communications Incorporated in the first half of next year, the telco giant disclosed in a regulatory filing today.

This marks AT&T's first recent comment on the blockbuster deal announced earlier this year--yet another sign of the convergence of the cable and telco industries. Many investors had wondered if the proposed multi-billion dollar deal was still on track.

"The company is progressing in meeting its timetable for the approvals of the Tele-Communications, Inc. (TCI) merger and has completed all of its initial domestic regulatory filings, including for the Federal Communications Commission (FCC), Department of Justice (DOJ), 8 states and approximately 940 local franchising authorities," today's filing with the Securities and Exchange Commission said. "The company also announced that it has filed confidentially with the Securities and Exchange Commission (SEC) a preliminary proxy/prospectus.

Following SEC review, the company will make the proxy publicly available and send it to all AT&T and TCI shareowners.

AT&T did not offer a timetable for public release of the proxy, however.

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