US Government Approves Cingular's Acquisition of AT&T Wireless
Posted on: Wednesday, 27 October 2004, 09:00 CDT
US government approves Cingular's acquisition of AT&T Wireless
WASHINGTON, Oct. 26 (Xinhua) -- The US Federal Communications Commission (FCC) on Tuesday approved Cingular Wireless' 41-billion- US dollar acquisition of AT&T Wireless Services Inc., creating the largest cellphone company in the United States.
However, in a bid to prevent a market monopoly by the largest cellphone company. The FCC will require Cingular to divest assets in 22 markets in at least eight states.
Antitrust regulators at the US Justice Department had earlier cleared the way for the merger on Monday.
The merger with AT&T will give Cingular about 47.6 million subscribers. That would top Verizon Wireless, the current market leader with 40.4 million customers, while paring the number of national cellphone providers to five.
Source: Xinhua News Agency - CEIS
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