A Simple Plan Part Ii
Let me explain. The AT&T-TCI deal, unveiled with great fanfare last June, featured the creation of a fancy new security to help AT&T’s stock-market value. Staid AT&T was joining the designer-stock crowd. The new AT&T security, called a tracking stock, was to be tied to the performance of AT&T’s consumer long-distance and wireless businesses and to the cable-TV business it was buying from TCI. But there’s nothing about the tracking stock in the mailing, which went to TCI’s holders as well as AT&T’s....