Shares of AT&T Inc. T rose 0.4% in premarket trading Monday, after alternative asset manager Apollo Global Management Inc. APO announced an agreement to invest $2 billion in preferred stock of AT&T subsidiary AT&T Mobility II LLC. Apollo expects to complete the investment in June 2023. AT&T Mobility plans to use the proceeds to partially replace the $8 billion in preferred interests that were outstanding before the fourth quarter of 2022. AT&T’s stock had slumped 3.
was in talks with certain wireless carriers about offering phone service plans to Prime members. The stock... Shares of AT&T Inc. T rose 0.4% in premarket trading Monday, after alternative asset manager Apollo Global Management Inc. APO announced an agreement to invest $2 billion in preferred stock of AT&T subsidiary AT&T Mobility II LLC. Apollo expects to complete the investment in June 2023.
was in talks with certain wireless carriers about offering phone service plans to Prime members. The stock has tumbled 19.1% over the past three months through Friday, while the Communication Services Select Sector SPDR exchange-traded fund XLC has rallied 15.3% and the S&P 500 SPX has gained 5.9%.
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