- The Department of Labor has tentatively signed off on AT&T's (T) plan to address a pension shortfall by contributing $9.5B worth of newly-created preferred stock in its wireless unit.
- AT&T originally announced the plan last year to a very mixed reception. UBS previously estimated the contribution could save AT&T $3B/year in tax payments.
- The Labor Department's proposal has been opened to public comment. If fully approved, it would retroactively go into effect as of Sep. 1.
- AT&T's pension fund assets were worth an estimated $45.1B, less than obligations of $58.9B.
From other sites
Video at CNBC.com (Aug 3, 2015)
Video at CNBC.com (Jul 23, 2015)
at CNBC.com (Jun 8, 2015)
at CNBC.com (May 18, 2015)
Video at CNBC.com (May 11, 2015)
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