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Published on Oct 24, 2016
AT&T's
bid for Time Warner is an expensive way for the telecom company to stay
relevant, according to TheStreet's Jim Cramer. He says AT&T is
competing against other companies for content, like Google and Facebook .
Cramer says in the current environment, he's not sure the merger will
win regulatory approval. Cramer says he would sell shares of both
companies. Both stocks did retreat early Monday, the first day to trade
the shares following the weekend announcement that AT&T had bid over
$85 billion for Time Warner.
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