AT&T Inc shareholder Elliott Management Corp on Monday called for the wireless carrier to sell some of its non-core businesses and cut costs in an effort to return more value to shareholders, sending its shares up 10%. Elliott, which has an interest in AT&T together worth about $3.2 billion, said the company could achieve a value per share of more than $60 by the end of 2021 if it follows the shareholder’s plan. “Despite nearly 600 days passing between signing and closing (and more than a year passing since), AT&T has yet to articulate a clear strategic rationale for why AT&T needs to own Time Warner,” Elliott said in a letter to the company’s board of directors.

source https://finance.yahoo.com/news/1-elliott-urges-t-sell-123518542.html?.tsrc=rss