Cingular / AT&T Wireless merger approval on Monday
Sources close to the situation
believe the FCC will announce approval for Cingular's $41 billion takeover of AT&T Wireless tomorrow. The vote has already taken place and the deal was approved with the expected concessions:
bq. To satisfy the antitrust concerns of regulators, Cingular will have to sell AT&T Wireless's business, including stores and customers, in 16 mostly rural and suburban markets, according to the sources. The company also will be ineligible to buy additional airwave licenses in areas where the combined company controls 70 megahertz or more of spectrum; 189 megahertz is the total available for use by cell phone companies in a market. Additionally, the company will have to sell a portion of its airwave licenses in some other markets.
We will keep you posted on any developments. After the merger takes place Cingular will become the nation's largest wireless carrier.
