AT&T’s stock price hit a 29-year low on Friday and continued to sink today as investors fled telecom stocks on reports that cleanups of lead-covered telephone cables could cost the industry tens of billions of dollars.
AT&T’s stock price hit a 29-year low on Friday and continued to sink today as investors fled telecom stocks on reports that cleanups of lead-covered telephone cables could cost the industry tens of billions of dollars.
They are going to use this as an excuse to finally have to get out of providing (POTS) land line service. Expect them to spin off a subsidiary that owns all this old infrastructure, declare bankruptcy, and either get a bail out to repair the cable of they convince the regulators to let them kill off POTS for good.