Business Services Industry
Cingular Makes All-Cash Offer for AT&T Wireless.
Knight Ridder/Tribune Business News, January, 2004
By Vikas Bajaj, The Dallas Morning News Knight Ridder/Tribune Business News
Jan. 21--With at least one offer in hand, AT&T Wireless Services Inc. appeared Tuesday to be preparing to sell itself to the highest bidder, launching a much-anticipated wave of consolidation in the intensely competitive sector.
Cingular Wireless, the nation's second biggest cellular company, made an all-cash offer Saturday to acquire AT&T Wireless and take on its almost $11 billion debt, people close to the situation said Tuesday.
The bid was being considered by the AT&T Wireless board of directors who were in the second day of meetings Tuesday, and could become the first offer in an auction of the company.
It was unclear how much money Cingular has...
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