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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

At&T; To Complete 3-Way Split Dec. 31

From Staff And Wire Reports

AT&T Corp.’s three-way split will be completed on the last day of the year with the spinoff of computer marker NCR Corp.

Shareholders of the world’s biggest long-distance company will receive 1 share of NCR for each 16 shares of AT&T they hold, AT&T said Wednesday.

AT&T earlier spun off its equipment business into a company called Lucent Technologies Inc.

AT&T has also sold a majority position in AT&T Capital Corp. to a consortium of investors.

Terms of the spinoff call for shareholders on AT&T’s books on Dec. 13 to receive shares in NCR. AT&T holders with 16 or more shares will receive full or partial shares. Those with fewer than 16 AT&T shares will get cash payments for fractional shares.