SBC said to be in talks to buy AT&T

SBC Communications, the second-largest regional phone company in the nation, is in talks to buy AT&T for more than $16 billion, according to executives close to the negotiations.

//

A
deal, if reached, would be the final chapter in the 120-year history of
AT&T, the first technological giant of the modern age and the
original model for telecommunications companies worldwide. A deal would
be a reunion of sorts, putting back together some of the largest pieces
of the Ma Bell telephone monopoly, which was broken up in 1984.

The
talks, which the executives described as “fluid” and “very, very
sensitive” would unite SBC, a Baby Bell with some 50 million local-line
customers, with AT&T, its much-diminished former parent. [via Ft.com]

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