Merger Brings Cingular Under AT&T Umbrella
Merger Brings Cingular Under AT&T Umbrella
By Susan Rush
March 6, 2006
NEWS@2 DIRECT
Is Ma Bell coming back into focus? AT&T, which recently was reborn out of a merger between SBC Communications and AT&T, announced a $67 billion stock deal to acquire BellSouth, combining Cingular Wireless' parents into one company.
In November 2005, SBC closed its planned acquisition of AT&T Corp. and took on the AT&T name. At the time of the announcement, company chief executive Edward Whitacre announced plans to offer a wireless service under the AT&T brand.
The deal to purchase BellSouth means Cingular Wireless, the No. 1 wireless carrier in the United States, will come under full control o...
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AT&T merges with BellSouth; Cingular to go back to AT&T brand
Mar 6, 2006
ATLANTA—AT&T Inc. announced Sunday that it will merge with Baby Bell BellSouth Corp. in a $67.1 billion, all-stock transaction that, if approved by regulators, would give Cingular Wireless L.L.C. a single parent company. The transaction also would replace the Cingular brand with the very AT&T brand that Cingular tried to stamp out after acquiring AT&T Wireless Services Inc. in 2004.
The boards of BellSouth and AT&T have already approved the merger, which also must receive a thumbs-up from stockholders and U.S. anti-trust regulators. The merger would put AT&T back on top as the largest telecommunications company in th...
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