Ahead of spinoff comes a nice run-up.(Stock focus: Liberty Media Corp. Series A (NYSE--L))(Brief Article)
Multichannel News, June, 2004
Liberty Media enjoyed a run-up ahead of its June 7 spinoff of shares in a new company, Liberty Media International, that will own stakes in broadband providers in Europe, Japan and Latin America. Liberty's share price rose by 80 cents, or about 8%, between its recent low on May 20 to the $11.20 closing price on June 2.
Meanwhile, shares of LMI's series A and B common stock began trading on the OTC Bulletin Board under the symbols "LTYAV" and "LTYBV," respectively, on June 2. Beginning June 8, LMI series A and B shares will begin regular trading on the NASDAQ National Market under the symbols "LBTYA" and "LBTYB," respectively. Analysts had recently pegged a value on LMI's A shares of $35 to $40 each, judged by the value of the assets in the LMI...
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