BellSouth Shareholders OK Sale to AT&T
An AP newswire article by Harry R. Weber, via SFGate.com, reports that:
BellSouth Corp. shareholders approved Friday the proposed sale of their company to AT&T Inc. for $67 billion in stock, a deal that would expand the reach of the nation's largest telecommunications provider and put the two companies' wireless joint venture under one roof.More here.
The vote during a special meeting in Atlanta was 97 percent in favor of the deal, which was announced March 5 and is expected to close by the end of the year.
AT&T shareholders were scheduled to vote later Friday in San Antonio on whether to issue new stock in the combined company.
Federal and state regulators also must approve the deal.
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