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Article: EchoStar soars amid buyout rumors Talks with AT&T have turned 'hot,' some insiders say.(Business)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- November 20, 2007
- Author:
CopyrightCOPYRIGHT 2007 Rocky Mountain News. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jeff Smith, Rocky Mountain News
Shares of EchoStar Communications rose 19 percent Monday amid a new round of reports that AT&T may buy the Douglas County-based satellite-TV company to better compete with cable companies.
EchoStar stock increased $7.66, to $47.49, on heavy trading. It was the biggest jump in years, though shares retreated some in after-hours trading.
The stock had plunged 18 percent last week after the company posted weaker-than-expected third-quarter subscriber numbers.
That decline sparked AT&T's "reinvigorated" interest, Barron's said in its "The Trader" column, citing an unidentified industry source.