Cingular Wireless L.L.C. has reportedly made a formal offer to acquire rival AT&T Wireless Services Inc. in a move that if approved by AT&T Wireless’ board of directors, which is meeting this week ahead of the carrier’s fourth-quarter and year-end financial results announcement next week, would result in the creation of the country’s largest wireless carrier with approximately 45 million subscribers.
Published reports citing a source close to the deal noted Cingular’s offer was an all-cash proposal believed to be at a premium over AT&T Wireless’ current $10 per share trading price on the New York Stock Exchange, which gives the carrier an approximate market capitalization of $27 billion.
