SBC to Take over AT&T as Early as Next Week

Telecom News Editorials Reports Glossary

1:23 am on November 12, 2005 | Category: Business, Corporate

AT&T has announced plans to pay its shareholders a special one-time dividend of $1.30 a share as soon as its merger with SBC Communications is finalized, which could happen as early as next Friday.

The two companies are still waiting on final approval from California regulators, but once this is granted, nothing will stand in the way of the $16 billion deal.

The pending agreement, which will see AT&T absorbed by SBC Communications, will make SBC the biggest provider in the US telecom market, and protect AT&T shareholders from a bleak future of increasing competition and declining revenue.

Links: AT&T, SBC Communications, SBC, Corporate, Merger, Telecommunications, Wireless.