AT&T unveils historic plan to give up 22 companies

The American Telephone & Telegraph Company announced Thursday its detailed plan for the largest corporate divestiture in history, saying it will preserve the investments of its stockholders and, as far as possible, the jobs of its 1 million employees.

The proposal was submitted to US District Court Judge Harold Greene, who last August approved a consent agreement between AT&T and the Justice Department that requires the giant company to get rid of its 22 operating companies.