AT&T; Seeks Confidential Negotiations for Unit
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AT&T; Corp. asked Comcast Corp. and other suitors interested in buying its cable television unit to sign confidentiality agreements before any negotiations could proceed, sources familiar with the situation said.
AT&T; last month rejected Comcast’s unsolicited $40-billion share offer to buy AT&T; Broadband, calling the price too low and saying the proposed voting structure would put AT&T; shareholders at a disadvantage.
AT&T; has been approached by other suitors, including Walt Disney Co., Cox Communications Inc. and AOL Time Warner Inc., sources said. Before AT&T; would engage in any negotiations, it asked Comcast and other interested parties to sign agreements not to disclose AT&T;’s confidential financial data, sources said.
Comcast had not signed the agreement as of Wednesday, sources said. But Comcast officials said they hope to begin acquisition talks soon.
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