Divestiture

(redirected from divestment)
Also found in: Dictionary, Thesaurus, Legal, Financial, Wikipedia.

Divestiture

The breakup of AT&T (American Telephone & Telegraph Corporation), the largest company in the U.S. prior to 1984. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). Bell Labs was renamed AT&T Bell Labs, and its Western Electric manufacturing division became AT&T Technologies.

The demarcation point of the split was the Class 4 switching center. Except for those that handled large metropolitan regions, all Class 4 offices remained with AT&T, and all Class 5 offices went to the RBOCs. It was the switching office class hierarchy within the Bell system that made Divestiture possible, because there were clear borders between long distance and local service. See Class 4 switch, Bellcore and Trivestiture.
References in periodicals archive ?
The California successes, they say, give a huge push to the national and global divestment movement.
When the University of Dayton decided to divest from fossil fuels in 2014, we also made a commitment to advance the conversation about divestment," said Paul Benson interim provost.
Further, the divestment streamlines Renaissance s portfolio facilitating more focused operations on growing its core businesses of offshore support vessels, through Dubai based Topaz Energy and Marine, and developing its contract services business, based in Oman.
Instead, it would appear that the region poses some unique hurdles to divestment, with almost 60 per cent of respondents indicating that challenges often occurred at the negotiation stage of a deal.
The Finance Minister on this occasion said that while undertaking the process of divestment of government shares in state enterprises, the principles of complete transparency and accountability should be given due consideration and importance.
Forty-six percent of executives initiated their most recent divestment because the assets were not part of their core business.
Only a few dozen student governments have cast ballots on divestment proposals since 2012.
Students from the campaign against divestment have written us acknowledging their 'hateful and spiteful' behavior during last week's hearing," said senior Manny Thompson.
Indeed, divestment by leading investors sends a powerful message that climate change is far too dangerous to accept further delays in the transition to a low-carbon future.
Chairman Privatization Commission, Mohmmad Zubair informed the Minister that in the immediate future, Privatization Commission would focus on divestment of GoP shares in HBL and Discos besides some other SoEs.
UO students voted in a nonbinding election last week to demand such divestment.
Global Banking News-October 28, 2013--Central bank approves Union Bank's divestment plans(C)2013 ENPublishing - http://www.