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CABLE WORLD STAFF
Getting on Track - AT&T Corp. overwhelmingly approved the creation of shares to track the performance of the company's wireless operations, the largest in the U.S. AT&T said 97.6% of the shareholders voted to approve the move. Analysts expect the sale to raise as much as $10 billion, which would be the largest U.S. IPO. AT&T's shares rose .25 on the news. The shares have declined 2.6% in the past year through March 14.
Goldman Sachs & Co. last week gave the America Online Inc.-Time Warner Inc. deal a boost by placing an 18-month target price of $105-$110 on AOL. AOL's stock gained .44 to 61.75 and Time Warner's stock added .62 to 87.12.
Shares of Yahoo! and online auctioneer eBay fell last week after speculation that the two were in merger talks. Yahoo!'s shares were down almost 8% and eBay's shares declined 9%.
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