DoJ Approves Cingular, AT&amp;T Acquisition
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The Department of Justice (DoJ) today announced that it would approve Cingular&#39;s $41 billion dollar acquisition of AT&amp;T Wireless , provided the mobile carrier sells assets, such as spectrum and customer contracts, in 11 states.
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The Justice Department reached a settlement agreement yesterday allowing Cingular Wireless to buy AT&amp;T Wireless and create the nation&#39;s largest cell phone company.
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Federal regulators will formally approve Cingular WirelessÂ $41 billion purchase of AT& T Wireless, according to company officials briefed on the matter.
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million for new Cingular and 40.4 million for Verizon Wireless. ADDS new final graf with stock prices. By CURT ANDERSON. WASHINGTON-- Justice Department antitrust regulators cleared the way Monday for Cingular
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WASHINGTON-The fanfare surrounding final government approval of Cingular Wireless LLC&#39;s $41 billion acquisition of AT&amp;T Wireless Services Inc.
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Description: The Justice Department clears the way for Cingular Wireless to acquire AT&amp;T Wireless. The deal, worth an estimated $41 billion, would make Cingular the nation&#39;s largest wireless phone company.
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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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US Federal Communications Commission Chairman Michael Powell plans to recommend Cingular Wireless receive approval to purchase AT&amp;T Wireless Services Inc.
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The Federal Communications Commission has approved the $41 billion merger of Atlanta-based Cingular Wireless and AT&amp;T Wireless Services Inc.
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Cingular said it closed its &#36;41 billion purchase AT&amp;T Wireless on Tuesday. Cingular received approval for the deal earlier in the day from the Federal Communications Commission. The Department of Justice approved the acquisition on Monday.
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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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Cingular Wireless LLC said Monday that AT&amp;T Corp. and AT&amp;T Wireless have extended their licensing agreement in preparation for Cingular&#39;s acquisition of the telecom giant&#39;s former unit.
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WASHINGTON-The Justice Department late this afternoon said Cingular Wireless LLC agreed to sell mobile-phone properties in 13 markets to win approval of its $41 billion acquisition of AT&amp;T Wireless Services Inc.
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Cingular Wireless&#39;s dream of becoming the nation&#39;s largest mobile phone provider came true yesterday, with final regulatory approval of its $41 billion purchase of AT&amp;T Wireless Services.
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Cingular Wireless, which yesterday finalized its purchase of AT&amp;T Wireless, said the company will be governed from four regional centers -- one of them in Redmond -- by a combination of its executives and those from AT&amp;T Wireless.
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WASHINGTON -- Antitrust regulators at the Justice Department have given their blessing to the acquisition by Cingular Wireless of AT&amp;T Wireless Services.