Anon: re: Tracking stock.......
According to today's PR, it's anyone's guess, but a "dividend" appears to be the first step.
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FOR RELEASE TUESDAY, MAY 2, 2000
AT&T Closes AT&T Wireless Offering
$10.6 Billion Is Raised In Largest Initial Offering in U.S. History
New York -- AT&T today announced the closing of the sale of 360 million shares of AT&T Wireless Group tracking stock, raising more than $10.6 billion. AT&T Wireless, which had an initial offering price of $29.50 under the ticker symbol of AWE, closed yesterday at $35.00.
The shares sold represent 15.6 percent of AT&T's economic interest in the AT&T Wireless Group. AT&T plans to distribute its remaining economic interest in the AT&T Wireless Group in a timely manner. The disposition will include a stock dividend to holders of AT&T common stock for at least a portion of the interest, but may also include an exchange offer, a further sale of AT&T Wireless, or a combination of these alternatives. AT&T's Board of Directors will determine the method and timing of the disposition based on market conditions.........
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Regards,
Bob |
