AT&T has been in the news a lot recently. Remember back when it was announced that AT&T Wireless was becoming Cingular? Well, there's a lot more to that story so here's how it all worked, along with the more current news...
Cingular was formed as a merger of several companies and then later absorbed AT&T Wireless. It's all very messy. Then, this year, SBC purchased AT&T, but decided to keep the AT&T name. Now that big company owns 60 percent of Cingular Wireless. The other 40 percent is owned by the phone giant BellSouth. Guess what? The new AT&T is now buying BellSouth. This will for the largest phone/wireless/internet/telecommunications company in the country. And now they'll own 100 percent of Cingular...and they intend to change the name back to AT&T Wireless.
The good news is that the change will be in name only...so all the Cingular customers won't have all kinds of problems with their bills and whatnot because of accounting changes.
Welcome to Corporate America.
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