Stock Return Sought: American Telephone + Data...

Stock Return Sought: American Telephone + Data Inc. said Friday that it is seeking return of a majority of its common shares after a deal that brought the company a new subsidiary went sour.

American Telephone said CPH-T Inc. “significantly understated” the size of its debt while it was negotiating to be acquired by American. It is now a major unit of American.

American’s move to stop the transfer and take back its stock would reduce outstanding common shares from 22 million to 8 million.