http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=1&u=/nm/20040217/bs_nm/telecoms_attwireless_dcCingular Wins AT&T Wireless for $41 Bln
24 minutes ago Add Business - Reuters to My Yahoo!
By Kirstin Ridley and Siobhan Kennedy
LONDON (Reuters) - U.S. mobile phone operator Cingular Wireless on Tuesday won a battle to take over smaller rival AT&T Wireless after bidding $41 billion in cash and trumping cellphone titan Vodafone.
Cingular -- the second-largest U.S. mobile phone group, owned by regional carriers SBC Communications Inc. and BellSouth Corp. -- said it bid $15 per share for third-ranked AT&T Wireless, clinching a four-day auction.
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AT&T Wireless shares, which have not traded since Friday because of a U.S. national holiday, leapt 18 percent to $14 via agency broker Instinet
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Cingular has said it can cut costs by an annual $3.0 billion by reducing overlapping staff and assets after a merger.
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Reduce overlapping staff? You mean job cuts?