Cingular wireless deals
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He said federal regulators may ask the combined company to divest certain assets where there is overlap. Even in areas of overlap, there is sufficient competition not to warrant it. As far as possible job cuts or management changes, de la Vega indicated there could be some, though he would not elaborate.
The combined company would have about 70, employees. The analyst Comack said he expects there to be significant layoffs because there is so much overlap between the companies. They might save some salesmen, but everything is redundant," Comack said. Cingular, which had He said it is not clear if Vodafone dropped out of the race before or after Cingular upped its bid. A Vodafone deal would have required the British cell phone giant to sell its 45 percent stake in Verizon Wireless.
After announcing it had dropped out, Vodafone said Tuesday that it remained "committed to its existing position in the U. The carrier, based in Redmond, Washington, has more than 22 million subscribers, including a sizable base of corporate clients who tend to use more services and spend more money.
Late last year, it couldn't add new subscribers because of a glitch in a new software system designed to improve customer service.
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- IT’S DEALNAPPING! – CINGULAR STEALS AT&T WIRELESS IN THE DEAD OF NIGHT!
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The company has not released specific figures. View Comments. The tide was running with Vodafone.
Cingular, AT&T Wireless close $41 billion merger
Sarin that all he needed to do was fiddle with some minor points and the deal was most likely his. It was around midnight in Britain, and Mr.
Sarin was getting tired. Before he went to sleep, he made some last-minute calls to organize a conference call with his board yesterday morning to approve the final offer and seal the deal. Felix G. Rohatyn, an adviser to one of Cingular's parents, SBC Communications, was so resigned to losing he got on his Gulfstream jet to resume his vacation in the Caribbean.
But about 9 p. Whitacre, and BellSouth's chief executive, Duane Ackerman, held a conference call to figure out what to do. They wanted to know if they could bid again. Someone involved in the auction said all the air went out of the room. The answer came back yes, as long as the bid was submitted by 3 a. The bid was contingent on its being accepted immediately. The lawyers and bankers for Cingular raced to submit the bid formally. It was an extraordinary night of deal making.
Merger Would Rival Verizon Wireless, Intensifying Industry Consolidation
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AT&T Wireless-Cingular Deal Rumors Intensify
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