AT&T Wireless & VoiceStream talk merger
According to a report in the Wall Street Journal VoiceStream Wireless is in talks to merge with AT&T Wireless Services Inc. The deal's estimated value exceeds $10 billion and will result in the 2nd largest wireless provider in the nation.
Details are unavailable due to the early stages of negotiations. Both comapnies have had preliminary talks with various copmanies in the last several months but no agreements have been reached.
According to insiders, executives from VoiceStream and AT&T Wireless have been holding discussions about a deal that would unite the companies and make VoiceStream the dominant shareholder.
AT&T Wireless had $13.6 billion in revenue last year and $5 billion in assets. The company has recently acquired TeleCorp for $3 billion. Voicestream, with only $4 billion of revenue last year, has among the lowest rates in the industry.