AT&T Corp pumped $2.8bn into its computer subsidiary, NCR Corp, from 1993 through the first half of 1996, according to documents it filed with the Securities and Exchange Commission last week. AT&T was released the financial details as part of its process to spin off the subsidiary (CI No 2,997). It also emerged that the firm will throw $487m more at the company before the end of year spin-off to shareholders. Previously AT&T only released NCR’s operating profits and last week’s figures were the first definitive sign that the Dayton, Ohio subsidiary had needed such large cash infusions. AT&T bought NCR in 1991. NCR was doing sufficiently well as a free-standing company that it is almost inconceivable that it would have performed nearly as badly had AT&T not won its hostile takeover. NCR lost $37m in the first quarter of this year and recorded an operating profit of $11m in the second quarter. AT&T’s shares were steady at $51.38 on Friday.
