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AT&T Is Too Cheap to Ignore While Others ‘Wait and See’

Indeed, investors are frustrated with T, but after AT&T’s investor day last Monday, the opportunity appears too compelling at the current price prior to the Discovery deal closing. AT&T is set to split off Warner Bros to Discovery shareholders, which is likely to occur in mid-April. The transaction will give T shareholders 0.24 of a share of the new Warner Bros Discovery (with all current Discovery shares getting wrapped in) for each share of T. The value T is getting is extrapolated from the current value of DISCA, 71% of a $62 billion company, so at the current price of around $26 for DISCA, T holders have about $6/share in Warner Bros Discovery value.

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