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AT&T mulls split into four parts
AGENCE FRANCE PRESSE
New York : Us telecommunications giant AT&T will consider a plan on Monday to divide the company into four parts, allowing it to become more responsive and nimble in the ever-changing industry, the New York Times reported.The proposed split is a bid by the company, the largest US long-distance phone and cable television provider, to shore up faltering shares which are trading at around half their price a year ago.Under the proposal, AT&T's wireless unit and cable television operation would each be spun off as an independent company within the next two years, the Times reported. The company would also issue a new class of stock to track its struggling retail long-distance operation. The move, if approved by the board, would represent the second time the company has voluntarily revamped its structure since a 1984 government-mandated breakup of the Bell phone system. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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