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BellSouth Shareholders Approve AT&T Merger

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BellSouth shareholders voted to approve its merger with AT&T. BellSouth and AT&T jointly own Cingular Wireless, the nation's largest wireless voice and data provider. The purchase of BellSouth will bring Cingular Wireless under one company, allowing AT&T to offer a wider variety of services to combat wireless rivals and cable television companies. In an effort to reduce costs and be more competitive in the increasingly crowded telecommunications sector, the company has said it expects to cut around 10,000 jobs following the acquisition.

Posted on July 27, 2006 10:07 AM |

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