ATT Wireless acknowledges it is exploring merger, sale

0 Comments | AFP, January, 2004

NEW YORK (AFP) — ATT Wireless acknowledged it is exploring merger possibilities as a result of the shifting telecom landscape, while announcing it posted a fourth-quarter loss amid disappointing growth.

In a statement, the Redmond, Washington firm spun off as an independent company by AT and T, said its board of directors "has decided to explore the company's strategic alternatives."

ATT Wireless said it is exploring the possibilities due to "significant interest from a number of other companies, as well as global and domestic industry dynamics," but added that "there can be no assurance that any transaction will occur."

Media reports said ATT Wireless was considering a 27 billion dollar offer from Cingular Wireless that would create the largest US wireless...