Time Warner Cable (TWC) - Cleared for Trading
Time Warner Cable has cleared regulatory hurdles and should begin trading as a separate company (TWC) on March 1. As the name suggests, TWC is majority owned by Time Warner (TWX) and represents assets purchased from bankrupt Adelphia.
Even after becoming public, the company will still be majority owned and controlled by its parent company Time Warner Inc
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Time Warner Cable will distribute 156 million shares of its stock, or about 16 percent of its total outstanding shares, to stakeholders in Adelphia. That stake is valued at approximately $6 billion
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Time Warner Cable's shares have been trading on a temporary or "when-issued" basis on the New York Stock Exchange since early this year under the symbol "TWCAV." Those shares slipped 25 cents to $40.75 in midday trading.
Even after becoming public, the company will still be majority owned and controlled by its parent company Time Warner Inc
..
Time Warner Cable will distribute 156 million shares of its stock, or about 16 percent of its total outstanding shares, to stakeholders in Adelphia. That stake is valued at approximately $6 billion
..
Time Warner Cable's shares have been trading on a temporary or "when-issued" basis on the New York Stock Exchange since early this year under the symbol "TWCAV." Those shares slipped 25 cents to $40.75 in midday trading.
posted by spinoff at
10:09 AM
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