Rumor Mill
Cingular Raises AT&T Wireless Offer
PHILADELPHIA/LONDON (Reuters) - Cingular Wireless on Friday raised its offer to buy smaller rival AT&T Wireless Services Inc., while rival Vodafone Group Plc pored over a potential bid that could value the No. 3 U.S. wireless company at $35 billion, sources familiar with the situation said.
After the 5 p.m. EST bidding passed, details of Cingular's sweetened offer were not immediately available. But sources familiar with the bid said the price topped Cingular's initial offer of $30 billion, or $11 a share.
It was not clear whether Vodafone Group Plc had pulled the trigger on its bid, but one source familiar with the talks said the company had mulled an offer as rich as $35 billion, or about $12.50 a share.
Vodafone, Cingular and AT...
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After the 5 p.m. EST bidding passed, details of Cingular's sweetened offer were not immediately available. But sources familiar with the bid said the price topped Cingular's initial offer of $30 billion, or $11 a share.
It was not clear whether Vodafone Group Plc had pulled the trigger on its bid, but one source familiar with the talks said the company had mulled an offer as rich as $35 billion, or about $12.50 a share.
Vodafone, Cingular and AT...
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