‘They don’t need the AT&T Wireless employees at all. '
ATLANTA - Cingular Wireless won the bidding war to acquire AT&T Wireless Services for nearly $41 billion in cash, a deal that would create the nation’s largest cell phone company.
The merger between the second and third largest U.S. wireless companies was announced Tuesday as Britain’s Vodafone Group PLC withdrew from the contest after four days of rising bids.
Combined, Cingular and AT&T Wireless will have 46 million subscribers, enough to leapfrog Verizon Wireless’ market leading customer base of 37.5 million.
AT&T Wireless chief executive John Zeglis will not remain with the combined company once a deal is approved, he told reporters Tuesday in a conference call. Cingular CEO Stan Sigman will be chief of the company, Zeglis said....
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The merger between the second and third largest U.S. wireless companies was announced Tuesday as Britain’s Vodafone Group PLC withdrew from the contest after four days of rising bids.
Combined, Cingular and AT&T Wireless will have 46 million subscribers, enough to leapfrog Verizon Wireless’ market leading customer base of 37.5 million.
AT&T Wireless chief executive John Zeglis will not remain with the combined company once a deal is approved, he told reporters Tuesday in a conference call. Cingular CEO Stan Sigman will be chief of the company, Zeglis said....
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