this post was submitted on 18 Jul 2023
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AT&T stock fell to 29-year low on Friday and sank another 6.7% today (arstechnica.com)
submitted 2 years ago by PopBobert@lemmy.world to c/technology@lemmy.world
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AT&T's stock price hit a 29-year low on Friday and continued to sink today as investors fled telecom stocks on reports that cleanups of lead-covered telephone cables could cost the industry tens of billions of dollars.

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[–] dhorse@lemmy.world 12 points 2 years ago

They are going to use this as an excuse to finally have to get out of providing (POTS) land line service. Expect them to spin off a subsidiary that owns all this old infrastructure, declare bankruptcy, and either get a bail out to repair the cable of they convince the regulators to let them kill off POTS for good.