Cingular Makes Formal Bid For AT&T Wireless
I hate to say it, but it's about time. We've been going through months and months (in some cases, years) of rumors about a proposed merger between Cingular and AT&T Wireless without much more than rumors. Well, the latest rumors are now saying that Cingular has made a formal offer to the board at AT&T Wireless who are considering the deal. The question is whether or not they'll accept the deal (rumored to be all cash), or if they'll see if they can start up a bidding war. The other rumors floating around are that T-Mobile and Nextel are the other players interested in jumping in and pumping up the purchase price. Nextel wouldn't make that much sense, as they use completely different technology for their network, but you never know. The only thing that seems certain is that this is not the last we're going to hear about the major US wireless carriers and plans to merge.
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