European Commission Approves AT&T's $85 Billion Acquisition Of Time Warner

The European Commission on Wednesday approved AT&T Inc.'s $85 billion acquisition of Time Warner Inc. , AT&T said in a release. The companies are expecting the deal to close by year-end. AT&T shares have gained 9% in the last 12 months, while Time Warner has gained 39%. The S&P 500 has gained 17%.

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