A_Review_On_The_Acquisition_Of_AT&T_Wireless_By_Cingular

A Review On The Acquisition Of AT&T Wireless By Cingular Cingular Takes AT&T Wireless On February 17, 2004 an announcement was made. Cingular Wireless is to purchase AT&T Wireless creating the largest wireless carrier in the United States with over 46 million customers and annual revenues of $32 billion. The Facts First a little background on each company. On October 5th, 2000 Cingular was created by combining two of the strongest regional wireless companies in the United States. Atlanta, Washington based Cingular Wireless, a joint venture between SBC Communications (60%) and BellSouth (40%) serves more than 24 million voice and data customers across the United States. Cingular’s annual revenue for 2003 was $14.7 billion and is currently the second largest wireless company in the United States with more than 35,000 employees. In 1994, AT&T entered the wireless business by acquiring McCaw Communications for $11.5 billion. AT&T spun off its wireless unit to shareholders in 2001, to become a separate publicly traded company thereby increasing its ability to raise capital. AT&T Wireless, based in Redmond, Oregon, is currently the 3rd largest wireless provider with 31,000 employees, 21 million customers and annual revenue in 2003 of $15.7 billion. AT&T Wireless and Cingular have worked together in the past. In 2002 the wireless, att, billion, cingular, companies, deal, company, two, million, employees, sbc, bellsouth, about, year, new, largest, customers, cash, united, states, significant, several, service, purchase, need, major, cut, currently, communications, cingular’s, amount, zeglis, verizon, system, savings