US government approves Cingular&#39;s acquisition of AT&amp;T Wireless
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The US Federal Communications Commission (FCC) on Tuesday approved Cingular Wireless&#39; 41-billion-US dollar acquisition of AT&amp;T Wireless Services Inc.
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Justice Department antitrust regulators cleared the way Monday for Cingular Wireless LLC's $41 billion acquisition of AT&T Wireless Services Inc., a crucial step toward creating the nation's largest wireless telephone company.
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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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AT&T Wireless and  Cingular Wireless say they have resolved the issues relating to Cingular's use of the AT&T brand name once Cingular's acquisition of its former rival is complete. The agreement also includes a provision for the purchase of AT&T network services.
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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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Following approval from two U.S. government agencies, Cingular Wireless LLC has completed the $41 billion acquisition of AT&T Wireless Services Inc., creating the nation's largest wireless carrier.
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Justice Department antitrust regulators cleared the way for Cingular Wireless's $41 billion acquisition of AT&T Wireless.
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NEW YORK: The US justice department on Monday said it approved Cingular Wirelessâ $41bn plan to buy AT&amp;T Wireless Services, creating the countryâs biggest mobile provider, but it must sell assets to ensure competition.
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A majority of the US Federal Communications Commission has voted to conditionally approve Cingular Wireless&#39; proposed acquisition of AT&amp;T Wireless Services Inc.
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U.S. Federal Communications  Commission Chairman Michael Powell plans to recommend Cingular  Wireless receive approval to purchase AT&T Wireless Services  Inc. AWE.N with some divestitures, sources familiar with the  matter said on Monday.
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U.S. regulators are set to give  Cingular Wireless final approval for its $41 billion purchase  of AT&T Wireless Services Inc. AWE.N on Monday, on condition  that it sells assets including wireless airwaves in more than  16 markets, according to a source close to the deal.
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The US&#36;41 billion merger of Cingular Wireless and AT&T Wireless Services (NYSE: AWE) is the largest so far in the U.S. wireless telecom industry.
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Cingular Wireless LLC, the joint venture between SBC Communications Inc. and BellSouth Corp., has reached an agreement with the US Department of Justice that will allow the companyâs proposed acquisition of AT&amp;T Wireless to proceed on schedule.
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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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Cingular Wireless said it reached an agreement with AT&amp;T (nyse: T - news - people ) resolving a branding dispute for the AT&amp;T name.
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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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A final decision by the US Federal Communications Commission on Cingular Wireless&#39; proposed purchase of AT&amp;T Wireless Services Inc.