Elliott invests $3.2B in AT&T, seeks changes

Elkhart Indiana. The crowd filled the 7,500-person-capacity gymnasium

Elkhart Indiana. The crowd filled the 7,500-person-capacity gymnasium

Trump began the thread by writing, "Great news that an activist investor is now involved with AT&T".

President Donald Trump tweeted Monday that the announcement was "great news" and used the opportunity to criticize CNN, whose parent company WarnerMedia is a division of AT&T.

In a pair of - at best, ethically questionable - tweets Monday morning, the president raged against CNN, following news of Elliott Management disclosing a $3.2 billion stake in communications giant AT&T, which owns CNN.

"Despite almost 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.

Singer founded Elliott in 1977 and has gained a reputation as an activist investor who accumulates large stakes in public companies in order to force changes in management and strategy.

"Despite almost 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", the group wrote in their letter.

Elliott said that with the right strategic moves the company could nearly reach double its share price by end of 2021.

Later, Trump raged at Comcast and MSNBC. I believe their stories about me are not 93% negative, but actually 100% negative.

He continued by underscoring his administration's achievements including those made in the economy, criminal justice reform, and taxes.

"The Trump Administrations has achieved more in the first 2 1/2 years of its existence than perhaps any administration in the history of our Country".