AT&T shares expand in broadband merger

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Shares in AT&T gained 0.90 per cent on the NYSE yesterday after the company finalised a $72bn broadband merger with US cable network company Comcast. On Nasdaq shares in Comcast fell 2.61 per cent following the news. Shares in AOL Time Warner, which until recently had been pitched to clinch the deal, were up 0.85 per cent. Shares in the third bidder Cox Communications fell 1.36 per cent. Comcast triggered the bidding last July by making an unsolicited $44.5bn deal, which was rejected by AT&T.