AT&T (T) is requesting the Department of Labor allow it to use $9.5B in preferred equity...

|By:, SA News Editor

AT&T (T) is requesting the Department of Labor allow it to use $9.5B in preferred equity interest in its wireless division to help cover a pension shortfall that totaled $10.2B at the end of 2011. The contribution, which AT&T hopes will be approved by the end of 2013, will entitle cash distributions of $560M/year. AT&T would have the right to buy back the preferred interest after 5 years. (Verizon/Prudential)