Pillai wrote to employees last month that according to the audited figures for 2016-17, the board had a loss of Rs18.77 billion (Dh1 billion), and that the board was finding it challenging to contribute its share to the employees' master pension
and gratuity trust.
to make an in-kind contribution of approximately $9.1 billion of preferred LLC equity interests in indirect, wholly-owned subsidiary AT&T Mobility II LLC to the AT&T Pension Benefit Plan, a defined benefit (DB) plan, assets of which are held in a master pension
Those pension funds -- two General Motors funds and the AT&T Master Pension
Trust -- will retain a 52 percent stake in the Realty Group.