Comcast Jumps on T-Mobile Disinterest, AT&T Rises Despite $100 Million Fine -- Telecom Winners & Losers

NEW YORK (TheStreet) -- Comcast (CMCSA) jumped Wednesday as reports surfaced the cable company is not interested in a T-Mobile (TMUS) buyout. AT&T (T) edged higher as the carrier vowed to fight a $100 million fine levied by the Federal Communications Commission.

Comcast climbed 1.3% to close at $59.62.

The cable company reportedly is not interested in snapping up T-Mobile, although there was talk that it was exploring a potential buyout and holding discussions with T-Mobile's parent company Deutsche Telekom AG, according to a Reuters report.

Although Deutsche Telekom considered Comcast as one of the financially strongest potential buyers for T-Mobile, the Reuters report noted such buyout talks between the two companies were not underway. 

AT&T inched up 0.37% to end the session at $34.80.

The telecom giant was hit with a record $100 million fine by the Federal Communications Commission Wednesday for allegedly misleading customers into signing up for "unlimited data" service only to have their Internet speeds slowed if it reached a certain level, according to an Associated Press report.

AT&T says it plans to "vigorously dispute" the fine. AT&T in a statement said that the FCC allowed this practice as a legitimate way for carriers to manage network resources for the benefit of all customers and had known for years that all major carriers used this method.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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