NEW YORK (TheStreet) -- Shares of AT&T (T) are up 0.48% to $35.27 after it was reported that the company will pause investments to bring fiber connections to 100 cities until U.S. regulators iron out rules to regulate how Internet service providers manage their Web traffic, CEO Randall Stephenson told investors at a conference today, Reuters reports.
"We can't go out and invest that kind of money deploying fiber to 100 cities not knowing under what rules those investments will be governed," he said.
Separately, Stephenson said AT&T does not need to acquire assets in America Movil (AMX) , Mexico's largest wireless operator, to succeed in the country.
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"We believe we have found a path that gets us a nice scalable growth platform without the American Movil assets," Stephenson said.
TheStreet Ratings team rates AT&T INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate AT&T INC (T) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."