AT&T Completes Disposition of Its Remaining Interest in AT&T Wireless.Business Editors REDMOND, Wash.--(BUSINESS WIRE)--Dec. 24, 2001 AT&T Wireless (NYSE NYSE See: New York Stock Exchange :AWE AWE - Advanced WavEffect ) said today that AT&T had completed disposition of its remaining equity interest in AT&T Wireless. AT&T retained approximately $3 billion in AT&T Wireless shares at the time of the AT&T Wireless split-off The process whereby a parent corporation organizes a subsidiary corporation to which it transfers part of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the shareholders of the parent corporation in exchange for a portion of their this past July. Simultaneous with the split-off, AT&T executed a $1.6 billion debt-for-equity exchange transaction. At the same time, AT&T indicated its plan to monetize Monetize 1. To convert into money. 2. To convert from securities into currency that can be used to purchase goods and services. Notes: For example, you'll often hear Internet marketers talk about "monetizing website visitors. its remaining equity interest in the following months. AT&T monetized its remaining equity interest of approximately 91 million shares of AT&T Wireless at prevailing market prices. |
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