AT&T Inc's (T.N) proposal to contribute $9.2 billion to $9.5 billion of preferred equity to its pension plan has been tentatively approved by the U.S. Department of Labor, according to a filing.
AT&T plans to contribute 320 million preferred shares to the pension plan. The plan, to be made available for public hearing, if approved, would be effective retrospectively from September 1, 2013. (r.reuters.com/nat82v)
The preferred shares will have a market value of about $9.2 billion to $9.5 billion, the labor department filing said.
(Reporting by Rohit T. K. in Bangalore; Editing by Bernard Orr)