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TELECOMMUNICATIONS

AT&T takes $10 billion loss to cover pension plan

NEW YORK — AT&T said Thursday that it would take a $10 billion write-down on its fourth quarter earnings to cover accounting losses in its pension funds because of lower-than-expected interest rates.

The No. 2 U.S. wireless carrier said a lowered estimation of what it will earn on assets resulted “in an actuarial loss of approximately $12.0 billion,” which will result in the $10 billion pre-tax write-off.

From wire dispatches and staff reports