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Technology Stocks : Ascend Communications (ASND)

ASND 196.01

-0.8%

3:59 PM EST

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To: Jurgen who wrote (28273)	12/18/1997 11:34:00 AM
From: Sector Investor	Read Replies (2) of 61433

Hey. AT&T sold their credit card division for $3.5 billion in cash. The companies said in a joint statement that they expect the transaction to be consummated by the end of the second quarter of 1998 once the proper regulatory approvals are given. A Citibank spokesman said the AT&T Universal division has $15.7 billion in total assets, including the receivables. The assets are partially funded by $5.6 billion in AT&T debt, which Citibank will assume. Gee, they could use this cash for something in 1998. I wonder what?

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