FCC APPROVES!
http://biz.yahoo.com/rb/041026/telecoms_attwireless_ ... »
Reuters
FCC Approves Cingular's AT&T Wireless Bid
Tuesday October 26, 8:40 am ET
WASHINGTON (Reuters) - The U.S. Federal Communications Commission (News - Websites) said on Tuesday it has conditionally approved Cingular Wireless' $41 billion acquisition of AT&T Wireless Services Inc. (NYSE:AWE - News), clearing the last big hurdle for the deal.
The FCC said it voted to clear the deal on the condition, among others, that the companies sell AT&T Wireless operating units and associated airwaves in 16 markets. It also required them to sell 10 megahertz of airwaves in Dallas and Detroit.
The announcement follows clearance by U.S. antitrust authorities on Monday, who ...
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Reuters
FCC Approves Cingular's AT&T Wireless Bid
Tuesday October 26, 8:40 am ET
WASHINGTON (Reuters) - The U.S. Federal Communications Commission (News - Websites) said on Tuesday it has conditionally approved Cingular Wireless' $41 billion acquisition of AT&T Wireless Services Inc. (NYSE:AWE - News), clearing the last big hurdle for the deal.
The FCC said it voted to clear the deal on the condition, among others, that the companies sell AT&T Wireless operating units and associated airwaves in 16 markets. It also required them to sell 10 megahertz of airwaves in Dallas and Detroit.
The announcement follows clearance by U.S. antitrust authorities on Monday, who ...
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Heres the rest of the story....also just because this "step" has been taken does NOT mean that the merger has gone through. This is just a step in a series of steps that need to be taken. So check this out from the Dept Of Justice website:
http://www.usdoj.gov/opa/pr/2004/October/04_at_718.htm »
http://www.usdoj.gov/opa/pr/2004/October/04_at_718.htm »
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This from an article on TheStreet.com
http://www.thestreet.com/_yahoo/tech/scottmoritz/101 ... »
"With the antitrust and regulatory approvals now in place, Cingular, a joint venture of SBC (SBC:NYSE - commentary - research) and BellSouth (BLS:NYSE - commentary - research), is expected to close the deal as early as this week. BellSouth executives said on a conference call Monday that they thought they could close the transaction a day or two after regulatory approval."
http://www.thestreet.com/_yahoo/tech/scottmoritz/101 ... »
"With the antitrust and regulatory approvals now in place, Cingular, a joint venture of SBC (SBC:NYSE - commentary - research) and BellSouth (BLS:NYSE - commentary - research), is expected to close the deal as early as this week. BellSouth executives said on a conference call Monday that they thought they could close the transaction a day or two after regulatory approval."
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Here you go:
JUSTICE DEPARTMENT REQUIRES DIVESTITURES IN
CINGULAR WIRELESS’S ACQUISITION OF AT&T WIRELESS
Divestitures Of Assets In 13 Markets Preserve Innovation And Pricing
Competition For Consumers Of Mobile Wireless Services
WASHINGTON, D.C. - The Department of Justice announced today that it has reached a settlement requiring Cingular Wireless Corporation to divest assets in 13 markets in order to proceed with Cingular Wireless’s $41 billion acquisition of AT&T Wireless. The Department said that without the divestiture of assets in 11 states--Connecticut, Georgia, Kansas, Kentucky, Louisiana, Massachusetts, Missouri, Michigan, Oklahoma, Tennessee, and Texas--the combination of Cingular and AT&T Wireless would resu...
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JUSTICE DEPARTMENT REQUIRES DIVESTITURES IN
CINGULAR WIRELESS’S ACQUISITION OF AT&T WIRELESS
Divestitures Of Assets In 13 Markets Preserve Innovation And Pricing
Competition For Consumers Of Mobile Wireless Services
WASHINGTON, D.C. - The Department of Justice announced today that it has reached a settlement requiring Cingular Wireless Corporation to divest assets in 13 markets in order to proceed with Cingular Wireless’s $41 billion acquisition of AT&T Wireless. The Department said that without the divestiture of assets in 11 states--Connecticut, Georgia, Kansas, Kentucky, Louisiana, Massachusetts, Missouri, Michigan, Oklahoma, Tennessee, and Texas--the combination of Cingular and AT&T Wireless would resu...
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This happened earlier today as well:
FCC OKs Cingular, AT&T Wireless Merger
10 minutes ago
By JENNIFER KERR, Associated Press Writer
WASHINGTON - The Federal Communications Commission gave its approval Tuesday to Cingular Wireless LLC's $41 billion acquisition of AT&T Wireless Services Inc., completing the federal regulatory blessing necessary for creation of the country's largest cell phone company.
The move follows Monday's announcement that Justice Department antitrust regulators approved the deal. Both agencies attached conditions to ensure there is adequate competition in different markets.
"We believe our conditions, combined with the benefits to the consumer experience brought by Cingular's new scale and scope, will ensure...
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FCC OKs Cingular, AT&T Wireless Merger
10 minutes ago
By JENNIFER KERR, Associated Press Writer
WASHINGTON - The Federal Communications Commission gave its approval Tuesday to Cingular Wireless LLC's $41 billion acquisition of AT&T Wireless Services Inc., completing the federal regulatory blessing necessary for creation of the country's largest cell phone company.
The move follows Monday's announcement that Justice Department antitrust regulators approved the deal. Both agencies attached conditions to ensure there is adequate competition in different markets.
"We believe our conditions, combined with the benefits to the consumer experience brought by Cingular's new scale and scope, will ensure...
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...
do they really think that removing one carrier from the equation actually will change the level of competition in the wireless industry? i just don't think it will matter
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well you know some anal retentive people think it may. honestly I think it will force the other carriers to improve upon what they have!
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I believe they look at it more as it will force Verizon (Now the second Largest) to improve and will keep the competition between them and us (Cingular) at a higher level. I dont see it as removing anyone from the equation, ATT's people, and equipment are still around, just under a different name.
And ATT still owns the rights to the ATT wireless name, and after a set time are allowed to start from scratch with the name.
And ATT still owns the rights to the ATT wireless name, and after a set time are allowed to start from scratch with the name.
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the merger will only spark the Wireless Wars in my opinion. Cingular is about to launch the largest ad campaign in the history of media. Let the games begin. No competition? You are about to see the biggest fight EVER.
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That's so right. It's going to be like a double-header. "Sprint takes on T-Mobile" for the first round to get things started and then the main event "New Cingular challenges Verizon" tonight during commercials!!!
But seriously... think about it...
But seriously... think about it...
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Not much info in this article posted on the Reuters web site:
http://yahoo.reuters.com/financeQuoteCompanyNewsArti ... »
Cingular closes $41 bln AT&T Wireless purchase
Tue Oct 26, 2004 11:00 AM ET
NEW YORK, Oct 26 (Reuters) - Cingular Wireless said on Tuesday it closed its $41 billion purchase of AT&T Wireless Services Inc (AWE.N: Quote, Profile, Research) , creating the biggest U.S. mobile provider.
Cingular is a venture of SBC Communications Inc. (SBC.N: Quote, Profile, Research) and BellSouth Corp (BLS.N: Quote, Profile, Research) .
http://yahoo.reuters.com/financeQuoteCompanyNewsArti ... »
Cingular closes $41 bln AT&T Wireless purchase
Tue Oct 26, 2004 11:00 AM ET
NEW YORK, Oct 26 (Reuters) - Cingular Wireless said on Tuesday it closed its $41 billion purchase of AT&T Wireless Services Inc (AWE.N: Quote, Profile, Research) , creating the biggest U.S. mobile provider.
Cingular is a venture of SBC Communications Inc. (SBC.N: Quote, Profile, Research) and BellSouth Corp (BLS.N: Quote, Profile, Research) .
...
