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Industry: Email Alert RSS FeedAT&T Wireless Group Inc - IPO - Company Financial Information - Brief Article
CommunicationsWeek International, May 8, 2000
* The initial public offering of AT&T Wireless Group Inc. has raised $10.6 billion for its parent AT&T, making it the most successful U.S. float in history. AT&T will use $7 billion from the proceeds to bolster its wireless operations through acquisitions and network expansions. Meanwhile, AT&T Corp.
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posted a 13% drop in its first-quarter operating profit and issued a sales and profit warning. The announcement resulted in a 14% fall in the U.S. long-distance company's share price.
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