Cingular bought AT&T Wireless for $41 billion

Cingular Wireless announced that it agreed to buy AT&T Wireless for $41 billion, topping Vodaphone's bid of $38 billion. Cingular is owned by SBS Communications which will pay around $25 billions and BellSouth which will pay $16 billion for AT&T Wireless. The new company will be the nation's biggest carrier.

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