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Short Take: TCI removed from the S&P 500 Index

Standard & Poor's will replace Tele-Communications Incorporated in the S&P 500 Index with AmSouth Bancorporation on a date yet to be announced. AT&T, also a S&P 500 component, is acquiring TCI. The deal is still pending approval by the Federal Communications Commission. Shareholders for both companies are scheduled to vote on the proposed merger Wednesday.

Standard & Poor's will replace Tele-Communications Incorporated in the S&P 500 Index with AmSouth Bancorporation on a date yet to be announced. AT&T, also a S&P 500 component, is acquiring TCI. The deal is still pending approval by the Federal Communications Commission. Shareholders for both companies are scheduled to vote on the proposed merger Wednesday.