
Elliott Associates, which now holds a $3.2 billion equity stake in AT&T, published an open letter to the AT&T Board of Directors urging that now is the time for a serious restructuring of the company.
Elliot argues that shareholder returns for AT&T have underperformed for a long period of time. Over the past decade, AT&T’s Total Shareholder Return (stock price plus dividends) has lagged the S&P 500’s TSR by well over 100 percentage...