Cingular Closes $41 Billion ATT Wireless Buy

KingFishKingFish
edited October 2004 in Science & Tech
Cingular Wireless on Tuesday closed its $41 billion cash purchase of AT&T Wireless Services, creating the biggest U.S. mobile telecommunications service--with more than 46 million customers.
Cingular, a venture of BellSouth and SBC Communications, closed the deal after agreeing to government demands that it sell wireless airwaves in 30 markets and give up about 325,000 customers. The combined company, which surpasses Verizon Wireless as the largest U.S. provider, has a network that covers the top 100 U.S. markets and spans 49 of the 50 U.S. states. Cingular Chief Financial Officer Peter Ritcher said the company would focus mainly on retaining customers as it begins a roughly two-year integration process. It will rely on network coverage improvements and branding rather than price promotions, he said in an interview with Reuters.
Source: ZD Net

Comments

  • MoTHA_NaTuREMoTHA_NaTuRE All over this bizzatch called FL
    edited October 2004
    this is really old news, i knew about this eversince last year, they just did not announce it, how you think ATT all of a sudden starts getting "more bars"
  • KingFishKingFish
    edited October 2004
    It is an old story that has been brewing for a while. The deal has finally been sealed it appears now.
  • CycloniteCyclonite Tampa, Florida Icrontian
    edited October 2004
    Yeah. i've been picking up Cingular towers for the last week. My phone actually switched to saying "Cingular Wireless."
  • KingFishKingFish
    edited October 2004
    Mine has too for about a month now. I've had AT&T for years now and have enjoyed their service. I just hope this consolidation doesn't lead to too few competitors in the market.
  • ThraxThrax 🐌 Austin, TX Icrontian
    edited October 2004
    I still pick up nothing but ATT towers here in south MI.
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