[b]Cingular Wireless[/b] has agreed to buy [b]AT&T Wireless[/b] for more than $40 billion. The deal could result in the creation of the largest cellular subscription base.
[blockquote]The deal, confirmed after the British company Vodafone Group PLC said it had withdrawn from the two-way bidding war, creates a combined company with a potential 46 million subscribers, Cingular said Tuesday in announcing the agreement.
The current market leader, Verizon Wireless, reported 37.5 million subscribers in its quarterly earnings report last month.
"This is great news for America's wireless users," said Stan Sigman, president and CEO of Atlanta-based Cingular in confirming his company's winning bid, which is subject to the approval of AT&T Wireless shareholders and federal regulatory authorities.
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[link=http://story.news.yahoo.com/news?tmpl=story&u=/ap/20040217/ap_on_bi_ge/at_t_wireless_auction&cid=509&ncid=716][b]The full story[/b][/link]
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