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AT&T Reported to Be Ready to Split Up Company.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, October, 2000 by Howe, Peter J.
Oct. 24--AT&T Corp., the nation's largest communications company and an icon of Corporate America for the past several decades, has reportedly agreed to split up the company by spinning off its wireless and cable TV operations.
The company's board of directors late last night approved the plan, which would unfold over the next two years, The New York Times reported today on its Web site, citing people close to the company.
The remainder of AT&T would oversee its telephone network and its division serving business customers, the newspaper said. The plan, developed at least partially to reverse the plunge of AT&T's stock, also calls for the creation of a tracking stock for its long-distance division.
It would be the biggest change since the...
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