Telco AT&T had said it is going ahead with plans to sell its stake in Cablevision in a bid to raise $2bn.
The move was swiftly followed by AT&T Wireless announcing that it has offered to buy the remaining 77 per cent of US mobile operator Telecorp that it doesn't already own, in an all-stock $2.3bn deal.
The news of AT&T selling up its Cablevision stake comes despite a profit warning that sent Cablevision's share price diving by eight per cent.
AT&T said that the move is a bid to reduce debt. The company inherited 48.9 million shares in Cablevision after buying TCI in 1999.
To further eliminate debt, AT&T is also planning to dispose of 24.5 million shares in the Rainbow Media Group, which is owned by Cablevision.
AT&T will begin promoting the sale of Cablevision shares next week, and around 42.9 million will be sold. A further six million will be made available if there is enough demand.
But Cablevision said that its growth in high-speed data technology would be lower than expected - 10 to 12 per cent, rather than 11 to 13 per cent - and that revenue from traditional telecoms operations is only expected to grow by six to eight per cent against previous estimates of seven to nine per cent.
If the US Telecorp deal goes ahead, it will mean that AT&T Wireless will gain 32 million potential subscribers, as well as expand its network-owned reach to the American mid-west and south, where Telecorp operates.
Also in the mobile arena, Virgin ended months of speculation by stating that it is to become a virtual mobile operator in the US. It will carry out its plan via the digital network owned by Sprint PCS.
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago