Cingular buys AT&T Wireless.Cingular Wireless, a joint venture with SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. Communications Inc., is acquiring AT&T Wireless for $41 billion, edging out British carrier Vodafone's attempt to purchase the third largest wireless carrier in the U.S. The new Cingular will have more than 46 million customers, with GSM (Global System for Mobile Communications) A digital cellular phone technology based on TDMA that is the predominant system in Europe, but also used worldwide. Developed in the 1980s, GSM was first deployed in seven European countries in 1992. service in 49 states and coverage in 97 of the top 100 markets, making it the largest U.S. carrier. The acquisition is still subject to the approval of AT&T Wireless shareholders and federal regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities , but could be complete in late 2004. |
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