NEW YORK (CNNMoney) -- What's the cost of a $4 billion gamble gone wrong?
For AT&T CEO Randall Stephenson, the answer is, "$2 million." That's the sum by which AT&T's board cut his 2011 compensation as a direct response to the failed T-Mobile takeover bid Stephenson led last year.
AT&T offered $39 billion for T-Mobile, a deal that would have eliminated the fourth-biggest wireless carrier in the U.S. and made AT&T the nation's biggest by far. But the arrangement was a risky one that all sides knew would face heavy regulatory scrutiny.
1 comment:
what a joke, its a slap on the wrist. Don't gamble with the stockholders money, bad boy. AT&T needs a new B.O.D. & CEO.
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