AT&T Wireless Services Inc., which is
being sold to Cingular Wireless LLC for $41 billion, said Friday its
officers and directors may gain as much as $83.8 million as the
transaction is completed.
Officers and directors could receive that sum at year end,
assuming Cingular and its parents SBC Communications Inc. and
BellSouth Corp. uphold their agreement to buy AT&T Wireless for
$15 a share, according to a filing by Redmond, Wash.-based
AT&T Wireless with the U.S. Securities and Exchange Commission.
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Along with boosting sales and reducing the costs of network expansion, the acquisition could make Atlanta-based Cingular the largest U.S. mobile-phone company. The filing also showed that AT&T Wireless
held talks with at least three other companies in the weeks
before it clinched the agreement.
Bloomberg News
