AT&T

(T) - Get Report

moved one step closer Friday towards issuing a tracking stock for its wireless group.

The company said it has filed a preliminary proxy statement with the

Securities and Exchange Commission

for the shareholder vote to authorize the stock. AT&T announced the creation of the tracking stock at the beginning of December after weeks of speculation.

The initial public offering is planned for the spring and, at $8 billion to $10 billion, could be the largest ever in the U.S. market.

United Parcel Service

(UPS) - Get Report

currently holds the record with its $5.47 billion IPO in November. After the IPO, the remaining shares in the tracking stock will be distributed to shareholders of AT&T common stock.

Revenue growth for the unit is expected to range from 25% to 30% this year, while growth in earnings before interest, taxes, depreciation and amortization should range from 35% to 40%, the company said in December.

The tracking stock is not expected to pay dividends for the foreseeable future.

AT&T shares closed Friday up 1, or 2%, to 49.