Cingular Deal Wins FCC Backing
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Echoing the Justice Department&#39;s consent Monday, the Federal Communications Commission Tuesday granted approval of the $41 billion buyout under the condition that Cingular divest itself of some network assets.
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With one federal approval received yesterday and another coming as soon as today, Cingular Wireless is finally poised to complete its $41 billion takeover of AT&T Wireless Services Inc.
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The Justice Department approved Cingular Wireless&#39; $41 billion acquisition of AT&amp;T Wireless yesterday, clearing one of the last hurdles in a deal to create the country&#39;s largest wireless-phone company.
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FCC approves the technology that could transform wireless communications.
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ATLANTA - Preparing for the acquisition of AT&amp;T Wireless, Cingular has committed to a $100 million deal to buy network services from AT&amp;T, Cingular said Monday.
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Cingular Wireless, AT&amp;T Wireless and Triton PCS have signed a definitive agreement that will enable Cingular to expand its coverage reach into key Virginia markets and give Triton entry into Puerto Rico.
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WASHINGTON (CBS.MW) -- The US Justice Department gave conditional approval Monday to Cingular Wireless&#39; acquisition of AT&amp;T Wireless, a $41 billion deal creating the nation&#39;s largest wireless carrier.
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WASHINGTON-The Federal Communications Commission today conditionally approved the $41 billion merger of Cingular Wireless LLC and AT&amp;T Wireless Services Inc.
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Cingular Wireless LLC has reached an agreement with the US Department of Justice that will allow the company&#39;s proposed $41 billion acquisition of AT&amp;T Wireless to proceed on schedule.
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A majority of the U.S. Federal  Communications Commission has voted to conditionally approve  Cingular Wireless' proposed acquisition of AT&T Wireless  Services Inc., a source familiar with the matter said on  Wednesday.
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Justice Department antitrust regulators cleared the way Monday for Cingular Wireless LLC's &#36;41 billion acquisition of AT&amp;T Wireless Services Inc., a crucial step toward creating the nation's largest wireless telephone company.
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US antitrust authorities on Monday approved Cingular Wireless&#39; plan to acquire rival AT&amp;T Wireless Services Inc. (AWE.N: Quote, Profile, Research) for $41 billion in cash, creating the nation&#39;s biggest wireless carrier.
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The California Public Utilities  Commission on Thursday upheld a $12.1 million fine against  Cingular Wireless, related to a two-year investigation into the  cellular telephone company's business practices.
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The U.S. Justice Department on Monday  said it approved Cingular Wireless' $41 billion plan to buy  AT&T Wireless Services Inc. AWE.N, creating the country's  biggest mobile provider, but it must sell assets to protect  competition.
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A majority of the U.S. Federal Communications Commission has voted to conditionally approve Cingular Wireless' proposed acquisition of AT&T Wireless Services Inc. , a source familiar with the matter said on Wednesday.
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The U.S. Federal Communications Commission has approved the purchase by AT&amp;T of 12MHz of wireless spectrum that covers 60 percent of the U.S.AT&amp;T bought the spectrum from Aloha Spectrum Holdings. The spectrum, in the highly coveted 700MHz band, covers 196 million of the 303 million U.S. residents and includes 72 of the top 100 media markets in the country. Aloha acquired the spectrum in earlier FCC auctions and from other auction winners. This portion of the 700MHz spectrum is not part of the&#160;FCC auction&#160;now in progress.The FCC, in an order issued Monday, approved the sale despite concerns expressed by the commission&#39;s two Democratic members. AT&amp;T announced in October that it intended to buy the spectrum for $2.5 billion. The company said then it planned to use the spectrum for broadcast video or for two-way communications such as voice, data or multicast content.The 700MHz spectrum band carries wireless signals three to four times farther than some higher spectrum bands, making it optimal for long-range broadband networks.Commissioner Jonathan Adelstein said he voted to approve the deal because of a lack of public opposition, but he had concerns about the FCC&#39;s review of the deal.The agency&#39;s review &quot;lacks both substance and analysis in its review of whether, on balance, the transaction serves the public&#39;s interest,&quot; Adelstein said in a statement. &quot;We are required to do more than simply conclude that a transaction benefits the public and will not have an adverse effect on competition. I would have preferred to see a more thorough assessment weighing the potential public interest harms and benefits of this transaction and its impact on the mobile telephony market.&quot;Commissioner Michael Copps voted against the deal. The deal could have a large impact on a mobile voice and data market &quot;that has seen round after round of consolidation in recent years,&quot; he said in a statement.Copps also raised concerns about the FCC&#39;s review of the deal. The review &quot;contains only an extremely abbreviated analysis of the competitive effects of this change in ownership,&quot; he said.AT&amp;T, in a statement, said it was pleased with the FCC&#39;s decision. The deal will help AT&amp;T meet growing customer demand for wireless services, the company said.
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Atlanta-based Cingular Wireless agreed to sell some if its airwaves in Dallas and Detroit to MetroPCS for $230 million. If regulators approve the deal, it&#39;s expected to close in the first quarter,.