Want 69% In AT&T? Shell Out $1,000

from the what's-the-point? dept

AT&T has sold 69% of their Latin American subsidiary for a grand total of $1,000 cash. Of course, the acquiring company, Southern Cross Group LLC, takes on a struggling telecom company with tremendous debts that has already said it may need to declare bankruptcy. What I don’t understand is when you get down to the point where it’s only costing $1,000 to get the entire company off their hands why they even bother exchanging any money at all?

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