The deal, which was approved by the boards of both companies, includes $25 billion in cash and the rest in AT&T stock.
AT&T Inc said on Thursday it is terminating its sponsorship agreement with Tiger Woods, joining the list of companies that have distanced themselves from the top golfer in the wake of a sex scandal. The US telecommunications company is the latest corporate sponsor to back away from the world's first billionaire athlete since he became engulfed in allegations of multiple extramarital affairs.
AT&T Inc, the largest telecom services provider in the US, has acquired an 8.07 per cent stake in Pune-headquartered Tech Mahindra for $34.5 million (around Rs 160 crore) by exercising a 2005 option agreement to buy a stake in the company. Its stake at Tuesday's prices on the Bombay Stock Exchange (BSE), however, is worth around Rs 900 crore.
Trying to adapt to changing market requirements amid recessionary conditions, corporate giants including Microsoft, IBM and Yahoo Inc are not only cutting jobs but are at the same hiring people in other business units, a media report says.
Apple Inc said it received a record four million first-day pre-orders of its new iPhone 6 and iPhone 6 Plus, meaning many customers will have to wait until October for their new phones.
Disgraced long-time USA Gymnastics team doctor Larry Nassar was sentenced on Wednesday to 40 to 175 years in prison for molesting young female gymnasts, following days of wrenching testimony from about 160 of his victims, including Olympic medallists.
The scandal stemming from longtime USA Gymnastics doctor Larry Nassar's sexual abuse of young female athletes could take a financial toll on the sports federation for years, sponsorship executives said.
Arora was hired in July to run a newly created unit called SoftBank Internet and Media Inc.
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