Sunday, October 24, 2004

DOJ Approves Cingular / AT&T Wireless Merger

The U.S. Department of Justice approved the proposed acquisition of AT&T Wireless by Cingular Wireless, a joint venture of SBC Communications and BellSouth. Conditions for the approval include the divestiture by the merged firm of AT&T Wireless's mobile wireless services business, including spectrum and customer contracts, in parts of 11 states--Connecticut, Georgia, Kansas, Kentucky, Louisiana, Massachusetts, Missouri, Michigan, Oklahoma, Tennessee, and Texas. The transaction is also subject to review by the FCC.

Cingular officials continue to expect the transaction to close later this quarter.


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