Cingular to Buy Phone Services From AT
From Bloomberg News
Cingular Wireless said it agreed to buy $100 million of phone services from AT&T; Corp. to help resolve a branding dispute related to Cingular’s purchase of AT&T; Wireless Services Inc.
AT&T;, the former parent of AT&T; Wireless, challenged the use of its brand name this month, saying AT&T; Wireless’ slow response time to customer calls violated an agreement between the companies. Cingular will retain the AT&T; Wireless name for six months after its $41-billion purchase.
AT&T; shares rose 18 cents to $14.48. Cingular parent SBC Communications Inc. rose 4 cents to $25.61. Both trade on the NYSE.
