Dealmaking's been all the rage in the U.S. telecom market over the last year or so. While many of the most prominent names have been making splashes during this most recent wave, one company that's been noticeably absent from the headlines is AT&T (NYSE:T). However, all that changed recently when AT&T's name surfaced in connection with a Spanish telecom giant. So what's the scoop? In the video below, Fool contributor Andrew Tonner sheds some light on these recent rumors.

Fool contributor Andrew Tonner owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.