AT&T, Elliott in talks after activist campaign launched: sources

AT&T and Elliott Management are talking about issues the activist hedge fund rai...

) and Elliott Management are talking about issues the activist hedge fund raised last month when it pushed for change at the U.S. telecommunications and media conglomerate, two people familiar with the matter said on Thursday.

The two sides have held discussions and there is dialogue, one of the sources said. The meetings have taken place since shortly after Elliott, one of the world’s most powerful activist investors, six weeks ago sent a four-part proposal for changes to AT&T. The fund says the changes could lift the share price by at least 60% by the end of 2021.

Elliott’s plan ranges from divesting certain businesses, eliminating $5 billion in costs, reviewing how it allocates capital and urging CEO Randall Stephenson, who has led the company since the financial crisis, to stop making acquisitions.Elliott’s $3.

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