SBC to acquire AT&T for $16 billion

[geekerati]

SBC to acquire AT&T for $16 billion
Mon Jan 31 @ 22:01
Source: CNet News

SBC Communications on Monday announced plans to acquire AT&T in a $16 billion deal, a move designed to bolster SBC's sales to enterprise customers nationwide and give it greater access to national and global networks. The deal also ends more than 100 years of independence for AT&T, also known as Ma Bell, which was forced by federal antitrust regulators to break up its operations in 1984. That spawned the creation of the Baby Bells, including SBC, which focused on local telephone services, while Ma Bell served as a long-distance carrier. "We are combining AT&T's national and global networks and expertise with SBC's strong platforms and skills in local exchange service, wireless and broadband," Edward Whitacre Jr., SBC's chief executive, said in a statement.

I can't believe this, who would have thunk it a few years back!!
Hack In The Box Source: CNET News