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AT&T Wireless Group (AWE) Message Board

  • jh2109 jh2109 Nov 5, 2004 5:29 PM Flag

    awe redeemed? what happened???

    hello, my dad owns some shares of AWE. His recent statement indicates that his shares have been 'redeemed'.

    So, can someone give me a short summary as to what happened with the shares of AT&T wireless?

    thanks!

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    • I figured that was what the check was for....that is....shares given to him when he was an AT&T employee. I was also an AT&T employee at the time of the IPO and I have not received a check. Time to check my Fidelity Long Term Savings I guess. Thanks.

    • if they convert, it would most likely be with SBC since majority owner.

      cingular razed the ball !

    • Thanks. What happened to the options that I recieved as an AT&T Broadband employee. Do they convert to Cingular options? Of course they are so far under water that it would probably not matter.

    • Maybe I can add some insight: During the AWE IPO, AT&T employees were allowed to purchase shares. Those shares were held by Fidelity, and with the merger cash exchange at $15 per share, that money is being held in a Fidelity cash account. You can keep it there, move it to another Fidelity investment or request a check.

      Also during the IPO, AT&T employees were given
      AWE shares. The merger cash exchange at $15 per share is being issued by check to shareholders from Cingular. Perhaps that's the check your ex-husband received.

    • When I look at my Fidelity statement, it is a cash account now. Not a problem for me. My ex also worked for AT&T and I think the check he received had something to do with shares that were given(?) to employees at the time of the AWE IPO....Not really sure, but that's the only thing I can come up with. Thanks very much for your reply.

    • Ok, here's what you do.

      Go to the fidelity website netbenefits.com and log in (or set up new name).

      You have to "set up" your local bank account in their system. You put in your routing numbers, name, social etc and it takes them about 10 days to verify it. Once it's verfied you can just request they transfer the money into that account.

      Cheers.

    • I asked for help, not nasty comments from people like you. I figured out why he got a check and I did not. No thanks to you. In the future, I would think first before typing rude remarks.

    • Maybe there's something wrong with me, what the hell are you talking about. If the shares were in your Fidelity account you received your money as you stated into your account. If you what cash just contact Fidelity and they will send you a check. He must have had the shares outside of a broker. No wonder he left you.

    • No, it was not my husband who told me the shares were in my name. At the time, we were both employees of AT&T. We were only entitled to buy a certain amount of shares for the IPO price as employees. I get the statements from Fidelity for the shares that are in my name. He has the same amount of shares in his name. Was there something that I should have gotten in the mail to fill out to get a check, as he did? His check came directly from Cingular. My shares of AWE have been converted to cash in my Fidelity account. So, where's MY check???? Maybe he sold his shares or signed something to get the check from Cingular. I just don't know. I asked him to give me the phone number on the paperwork he received from Mellon Investors or something like that. He hadn't changed his address, so his mail comes to my house....That's how I found out about the check from Cingular.

    • Was it your husband that told you those 450 shares were in your name?

      450 shares would be worth $6,750, his 800 bucks or so would equate to approx only 55 shares.

      Does this sound right?

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