Powell backs Cingular / ATT Wireless merger

Oct 04 2004 - 03:08 PM ET | AT&T Wireless, Cingular
FCC Chairman Michael Powell is in favor of Cingular's merger with AT&T Wireless according to sources that spoke with Reuters. The FCC is expected to make a decision on the $41 billion buyout in the next couple of weeks. Though the deal is widely expected to be approved, there will be some compromises: bq. Some of the conditions will likely include forcing the companies to sell assets in some rural areas where the number of competitors to the new company will dwindle to one or two, the sources said, declining further identification.