Now officially announced: T-Mobile buys California and Nevada Network from Cingular

[german gsm team]

T-Mobile buys GSM Networks in California and Nevada from Cingular for $ 2.5 billion. Cingular pays $ 200 million back for end of joint venture, so reak price is $ 2.3 billion.

Their joint venture will end by the beginning of 2005. T-Mobile gets back their GSM network in NY.

Cingular will buy roaming services for $ 1.2 billion minimum the next 4 years from T-Mobile.

T-Mobile exchanges 10 MHz in NY with 10 MHz in California.

T-Mobile buys additional 10 MHz in California for $ 180 million.

Original German press release:



25. Mai 2004

Deutsche Telekom stärkt Präsenz und Wachstumspotenzial in den USA

Deutsche Telekom unterzeichnet Vereinbarung mit Cingular zur Auflösung ihres Joint-Ventures in New York, Kalifornien und Nevada - T-Mobile USA erwirbt GSM-Netz in Kalifornien und Nevada für 2,5 Mrd. US-Dollar - Großhandelsabkommen mit Cingular sichert T-Mobile USA Umsatzerlöse in Höhe von mindestens 1,2 Mrd. US-Dollar über maximal vier Jahre - Langfristige Erwartung für Kundenbasis auf 30 bis 35 Mio. Kunden gegenüber derzeitigen Marktschätzungen von rund 25 Mio. Kunden erhöht - Kai-Uwe Ricke: "Wir stärken unsere Marktposition in einer wichtigen Wachstumsregion der USA."

Die Deutsche Telekom stärkt ihre Präsenz in den USA und baut das Wachstumspotential der T-Mobile USA aus. T-Mobile USA und die US-amerikanische Mobilfunkgesellschaft Cingular Wireless haben eine Vereinbarung unterzeichnet, in der die Modalitäten für die Auflösung des 2001 von den beiden Unternehmen gegründeten Mobilfunk-Joint-Ventures für Kalifornien, Nevada und New York City sowie den Erwerb des GSM-Netzes in Kalifornien/Nevada von Cingular festgelegt werden. T-Mobile USA wird dadurch Alleineigentümer des GSM-Netzes in Kalifornien und Nevada; das New Yorker Netz fällt wieder an das Unternehmen zurück.

"Wir sind uns sicher, dass durch diese Investition das langfristige profitable Wachstum unseres US-amerikanischen Mobilfunkgeschäfts beschleunigt wird, da unsere Marktposition in den wichtigen und attraktiven Märkten Kalifornien und Nevada gestärkt wird," sagte der Vorstandsvorsitzende der Deutschen Telekom AG, Kai-Uwe Ricke, zu der geplanten Transaktion.

In den zwei Jahren seit dem Start des Joint-Ventures in Kalifornien, Nevada und New York konnte T-Mobile USA allein in Kalifornien und Nevada nahezu 1,7 Mio. Kunden gewinnen. Der Erwerb des Netzes in diesen beiden Bundesstaaten stärkt die Basis für Wachstumschancen für T-Mobile USA: Die Penetration des amerikanischen Mobilfunkmarktes liegt bei 55 % und damit weit unterhalb des in Europa erreichten 80 %-Niveaus.

Im ersten Quartal 2004 konnte T-Mobile USA seinen Marktanteil weiter ausbauen. Mit 1,2 Mio. Nettoneuzugängen konnte ein hervorragender zweiter Platz unter den "Big 6"-Betreibern in den USA erreicht werden. Begleitet wurde dies vom höchsten ARPU-Zuwachs unter den sechs landesweitern Betreibern im Vergleich zum ersten Quartal 2003, einer Umsatzsteigerung von 43 % auf 2,6 Mrd. US-Dollar und einem EBITDA-Anstieg von 46 % auf 507 Mio. US-Dollar (nach HGB).

"Die stetige Erweiterung unserer Kundenbasis in der Region Kalifornien/Nevada ist ein wichtiger Motor für das weitere Wachstum von T-Mobile USA. Diese Vereinbarung wird dazu beitragen, dass wir unsere Erfolgsstory fortsetzen können," erklärte Karl-Gerhard Eick, stellvertretender Vorstandsvorsitzender und Vorstand Finanzen und Controlling der Deutschen Telekom AG. "Wir gehen davon aus, dass sich die Transaktion nicht negativ auf das Schuldner-Profil der Deutschen Telekom auswirken wird," so Eick weiter.

René Obermann, Vorstandsvorsitzender der T-Mobile International AG, äußerte sich zur Bedeutung der Präsenz von T-Mobile USA in Kalifornien und Nevada für die T-Mobile-Gruppe: "Wir konnten innerhalb kurzer Zeit nahezu 1,7 Mio. Kunden in diesen beiden wichtigen Bundesstaaten gewinnen. Des Weiteren gehen wir davon aus, dass über 20 % aller Neukunden von T-Mobile USA aus diesen Märkten kommen. Durch die Transaktion wird T-Mobile seine dynamische Entwicklung als einer der Wachstumsträger auf dem US-amerikanischen Mobilfunkmarkt fortsetzen."

Möglich ist die Vereinbarung zwischen T-Mobile USA und Cingular aufgrund des anstehenden anstehenden Erwerbs von AT&T Wireless durch Cingular in den USA und die daraus anstehende Zusammenlegung der Netzkapazitäten der beiden Unternehmen. Die Transaktion steht unter dem Vorbehalt der Genehmigung des Erwerbs von AT&T Wireless durch Cingular seitens der US-amerikanischen Kartellbehörde, der Regulierungsbehörde FCC und anderer Gremien.

Gegen den Kaufpreis von 2,5 Mrd. US-Dollar für das GSM-Netz in Kalifornien/Nevada wird eine Ausgleichszahlung in Höhe von 200 Mio. US-Dollar im Zusammenhang mit der Auflösung des Joint-Ventures gerechnet. T-Mobile USA leistet somit eine Netto-Barzahlung von rund 2,3 Mrd. US-Dollar an Cingular. Diese Zahlung soll Anfang 2005 erfolgen. Das Eigentum am Netz in New York fällt an T-Mobile USA zurück. Bislang hat T-Mobile seinen Verkehr in diesen Märkten über das Netz des Joint-Venture abgewickelt. Mit dem Abschluss der Transaktion wird Anfang 2005 gerechnet.

Weiter wurde vereinbart, dass Cingular von T-Mobile Netzkapazitäten im Volumen von mindestens 1,2 Mrd. US-Dollar über einen Zeitraum von maximal vier Jahren erwerben wird. Durch das Großhandelsabkommen soll die schrittweise Migration der Cingular-Kunden in Kalifornien, Nevada und New York in das von AT&T Wireless erworbene Netz sicher gestellt werden. Durch das Abkommen erhält Cingular die Möglichkeit, zusätzliche Kapazität zu gleichen Bedingungen zu erwerben.

Darüber hinaus wird T-Mobile USA gemäß der ursprünglichen Joint-Venture-Vereinbarung 10 MHz Mobilfunkspektrum in New York gegen Spektrum in ausgewählten Märkten in Kalifornien tauschen. T-Mobile USA darf das derzeit dem Joint-Venture zur Verfügung stehende Spektrum in diesem Markt nutzen, bis die Cingular-Kunden aus diesen Netzen migriert sind.

Des Weiteren wird T-Mobile USA von Cingular weitere 10 MHz Spektrum in San Francisco, Sacramento und Las Vegas für 180 Mio. US-Dollar erwerben.

T-Mobile USA wird außerdem die Möglichkeit haben, innerhalb von zwei Jahren von Cingular zusätzliche 10 MHz Spektrum in den kalifornischen Schlüsselmärkten Los Angeles und San Diego zu kaufen.

T-Mobile USA wird darüber hinaus im Rahmen ihres über den Erwartungen liegenden Wachstums möglicherweise weiteres Spektrum in den USA erwerben. Diese Absicht hat die Deutsche Telekom bereits im Rahmen ihrer Investitionsplanung kommuniziert.

Auf dieser Basis erhöht die Deutsche Telekom ihre Prognose für die Entwicklung der Kundenbasis von T-Mobile USA zum Jahresende 2004 auf über 16 Mio. Kunden. Die langfristigen Erwartungen für die Kundenbasis über einen Zeithorizont von rund zehn Jahren sind auf 30 bis 35 Mio. Kunden gegenüber aktuellen Marktschätzungen von rund 25 Mio. Kunden erhöht worden.

[Mango808]

Link to English Post for those not understanding German.

Looks like it's a Done Deal

[zztzed]

Here's a translation for those of you who are curious about what the original German press release says...

(Note: I'm not a native German speaker; I took it for four years in high school, plus it's late, so please excuse any errors in translation. )

May 25, 2004

Deutsche Telekom strengthens Presence and Growth Potential in the USA

Deutsche Telekom signs agreement with Cingular to dissolve their joint ventures in New York, California and Nevada -- T-Mobile acquires GSM network in California and Nevada for 2.5 billion US Dollars -- wholesale agreement with Cingular secures net sales for T-Mobile USA amounting to at least 1.2 billion US dollars over a maximum of four years -- long-term expectation for customer base at 30 to 35 million customers increased compared with the present market values of around 25 million customers -- Kai-Uwe Ricke: "We strengthen our market position in an important growth region of the USA."

Deutsche Telekom strengthens their presence in the USA and expands the growth potential of T-Mobile USA. T-Mobile USA and the American mobile phone provider Cingular Wireless have signed an agreement in which the modalities for the cancellation of the joint venture, which was founded by both businesses, for California, Nevada and New York City as well as the acquisition of the GSM network in California/Nevada from Cingular are arranged. T-Mobile USA will thus be the sole owner of the GSM network in California and Nevada; the New York network falls back to the business venture.

"We are sure that through this investment, the long-term profitable growth of our American mobile phone provider will be accelerated, since our market position in the important and attractive markets of California and Nevada will be strengthened," said chairman of the board of Deutsche Telekom AG, Kai-Uwe Ricke, of the planned transaction.

In the two years since the start of the joint venture in California, Nevada and New York, T-Mobile USA alone was able to acquire nearly 1.7 million customers. The acquisition of the network in both these states strengthens the basis for growth chances for T-Mobile USA: the penetration of the American mobile market is nearly 55% and therefore far below the 80% level achieved in Europe.

In the first quarter of 2004 T-Mobile USA could expand its market share further. With 1.2 million net capital additions, a brilliant second place among the "Big 6" carriers in the USA could be achieved. This would be accompanied by the highest ARPU increase among the six national carriers compared to the first quarter of 2003, an increase in sales of 43% to 2.6 billion US dollars and an EBITDA increase of 46% of 507 million US dollars (according to HGB).

"The constant expansion of our customer base in the region of California/Nevada is an important engine for the further growth of T-Mobile USA. This agreement will also account for the fact that we can continue with our success story," explained Karl-Gerhard Eick, acting chairman of the board and executive board of finances and controlling for Deutsche Telekom AG. "We are acting on the assumption that the transaction will not negatively affect the debtor profile of Deutsche Telekom," Eick stated further.

René Obermann, chairman of the board of T-Mobile International AG, expressed himself about the meaning of the presence of T-Mobile USA in California and Nevada for the T-Mobile Group: "Within a short time we could acquire nearly 1.7 million customers in both these important states. Furthermore, we assume that over 20% of all new customers from T-Mobile USA will come from these markets. Through this transaction T-Mobile will continue its dynamic growth as one of the bearers of growth on the American mobile phone market.

The agreement between T-Mobile USA and Cingular is possible because of the upcoming acquisition of AT&T Wireless by Cingular in the USA and the therefore upcoming merging of network capacity of both businesses. The transaction is subject to the approval of the acquisition of AT&T Wireless by Cingular on the part of the American Federal Trade Commission [I'm assuming that Kartellbehörde refers to the FTC; it means something like "trust regulator"], the regulatory authority of the FCC, and other bodies.

A compensation valued at 200 million US dollars in connection with the dissolution of the joint venture is counted against the purchase price of 2.5 billion US dollars for the GSM network in California/Nevada. T-Mobile USA therefore owes a net cash payment of approximately 2.3 billion US dollars to Cingular. This payment is to take place at the beginning of 2005. The ownership of the network in New York returns to T-Mobile USA. So far, T-Mobile has handled its traffic in these markets over the network of the joint venture. The beginning of 2005 will be counted with the end of the transaction.

It was further agreed that Cingular would purchase network capacity from T-Mobile in volumes of at least 1.2 billion US dollars over a time period of at most four years. Through the wholesale agreement, the gradual migration of Cingular customers in California, Nevada and New York to the network acquired from AT&T Wireless can be secured. Through the agreement, Cingular maintains the possibility to purchase additional capacity under similar conditions.

Beyond that, T-Mobile USA will exchange 10MHz of cellular spectrum in New York for spectrum in selected markets in California according to the terms of the original joint venture agreement. T-Mobile USA may use the available spectrum of the joint venture in this market until the Cingular customers are migrated from these networks.

Furthermore, T-Mobile USA will acquire 10MHz of spectrum in San Francisco, Sacramento and Las Vegas for 180 million US dollars.

T-Mobile USA will also have the possibility within two years to buy an additional 10MHz of spectrum from California in the key California markets of Los Angeles and San Diego.

T-Mobile USA will possibly acquire further spectrum in the USA in the context of its growth exceeding expectations. Deutsche Telekom already communicated this intention in its investment planning.

On this basis, Deutsche Telekom increases its prognosis for the growth of the customer base of T-Mobile USA at the end of the year 2004 to over 16 million customers. The long-term expectations for the customer basis over a planning interval of about ten years were increased to 30 to 35 million customers compared to current market valuations of about 25 million customers.

[piel]

wholly cow - it's actually a pretty good deal for Tmo when you look at it. score one for the good guys!

[jxb]

Excellent! This should do away with cumbersome explanations about TMO/Cingular sharing in CA, NV and NY. Also, no more cross-blaming and finger pointing for bad service in any of these states after "beginning of 2005." Each carrier is on their own in those markets.

Though, I kind of feel bad for all those Cingular users who didn't know any better and will now be roaming or using what AT&T calls the "most trusted network."

[jxb]

Fresh from http://www.t-mobile.net/CDA/t-mobile...d-2953,en.html posted earlier today. Enjoy!

Deutsche Telekom will further build on the success of T-Mobile USA and strengthen its presence in the USA. T-Mobile USA and the US mobile communications company Cingular Wireless have signed a contract setting out the arrangements for the dissolution of the two companies’ mobile communications joint venture established in California, Nevada and New York City in 2001 and the acquisition of the GSM network in California/Nevada from Cingular. As a result, T-Mobile USA will become the sole owner of the GSM network in California and Nevada and will regain full ownership of the New York network.

Chairman of the Board of Management of Deutsche Telekom AG Kai-Uwe Ricke commented on the planned transaction: “We are confident that this investment will accelerate the long-term profitable growth of our US mobile operations by strengthening our market position in the important and attractive markets of California and Nevada.“

Over the past two years since the start of the joint venture in California, Nevada und New York, T-Mobile USA gained nearly 1.7 million customers in California and Nevada alone. The acquisition of the network in these two states strengthens the basis for the growth opportunities of T-Mobile USA. Actually the penetration of mobile customers in the US stands at 55 %, significantly below the 80 % level in Europe.

In Q1 2004 T-Mobile USA continued to gain market share in the U.S. Net adds were 1.2 million customers, coming in strong second among the “Big 6” operators in the US. This was accompanied by the strongest ARPU increase among the big six operators, a 43 % increase in revenues to USD 2.6 billion and an increase in EBITDA of 46 % to USD 507 million (all figures German GAAP).

Karl-Gerhard Eick, Deputy Chairman of Deutsche Telekom AG, responsible for Finance and Controlling, said: “The continued expansion of our customer base in both California/ Nevada area is an important engine for the continued growth of T-Mobile USA, and this agreement will help us to continue our success story. We do not expect the transaction to have any negative impact on Deutsche Telekom’s credit profile.“

René Obermann, Chairman of the T-Mobile International AG Board of Management elaborated on the significance of the presence of T-Mobile USA in California and Nevada for the T-Mobile group: “Within a short period we have built a customer base of nearly 1.7 million in these two key states. In addition, we anticipate that more than 20 % of all T-Mobile USA’s new customers will come from these markets. As a result of this agreement, T-Mobile will continue its dynamic development as one of the growth leaders of the US mobile market.“

The agreement between T-Mobile USA and Cingular was made possible as a result of Cingular’s pending acquisition of AT&T Wireless in the USA, and the consequent combination of the two companies’ network capacities. The transaction is subject to the approval of Cingular’s acquisition of AT&T Wireless by US anti-trust authorities, and the Federal Communications Commission (FCC) and other regulatory approvals.

The purchase price of USD 2.5 billion for the GSM network in California/Nevada will be off-set by a payment of USD 200 million related to the unwinding of the joint venture. As a result T-Mobile USA will make a net cash payment of approximately USD 2.3 billion to Cingular. Ownership of the network in New York will return to T-Mobile USA. Until now T-Mobile has handled its traffic in these markets through the network of the joint venture. Closing of the deal is expected in the beginning of 2005.

It has also been agreed that Cingular will purchase network capacity from T-Mobile USA worth at least US$ 1.2 billion over a maximum of four years. This wholesale agreement is to ensure the orderly migration of Cingular’s customers in California, Nevada and New York over time to the network they will acquire from AT&T Wireless. The agreement provides the opportunity for Cingular to purchase additional capacity at similar terms.

T-Mobile USA will return 10 MHz of mobile spectrum in New York in exchange for mobile spectrum in selected markets in California as agreed in the original joint venture agreement. T-Mobile USA is entitled to use the spectrum currently available to the joint venture until such time Cingular customers have migrated from the networks.

In addition, T-Mobile USA will acquire from Cingular an additional 10MHz of spectrum in San Francisco, Sacramento and Las Vegas for USD 180 million.

T-Mobile USA will have the option to acquire a further 10 MHz of spectrum in the key Californian markets of Los Angeles and San Diego from Cingular within two years.

T-Mobile USA might buy additional spectrum in the U.S. as it continues to outperform expectations. This intention has already been announced by Deutsche Telekom and is included in its investment guidance.

As a result Deutsche Telekom is increasing its projection for the development of the customer base of T-Mobile USA at the end of 2004 to more than 16 million. The estimate for the long term customer base has been increased to between 30 and 35 million from current market estimates of around 25 million over a ten year horizon.

[piel]

Originally posted by jxb
Excellent! This should do away with cumbersome explanations about TMO/Cingular sharing in CA, NV and NY. Also, no more cross-blaming and finger pointing for bad service in any of these states after "beginning of 2005." Each carrier is on their own in those markets.

Though, I kind of feel bad for all those Cingular users who didn't know any better and will now be roaming or using what AT&T calls the "most trusted network."

You're quite right - there will be that added benefit of cingular stumbling a bit on the ATT network (because you know they won't have all the kinks out) and disgruntled customers porting to Tmo.

I was also excited by the stated short and long term goals of 16m and 35m subscribers respectively. That 16m is really barking at Sprint's door!

[RMitch]

They also mentioned a nationwide reciprocal roaming agreement in two of the reports I read this morning.

[cheerioboy26]

Here's the PR from Bellevue and TM USA this morning. I'm listening to a conference call right now, and will post additional info if there's more to share. Nothing in the first 10 minutes so far.

May 25, 2004 01:15 AM US Eastern Timezone

T-Mobile USA to End Network Venture with Cingular and Acquire California/Nevada Network and Spectrum; Acquisition Positions T-Mobile USA for Strong Growth

BELLEVUE, Wash.--(BUSINESS WIRE)--May 25, 2004--T-Mobile USA, Inc. ("T-Mobile USA"), the U.S. operating subsidiary of T-Mobile International AG & Co. KG ("T-Mobile International"), the mobile communications subsidiary of Deutsche Telekom AG (NYSET) ("Deutsche Telekom"), today announced it has entered into agreements with Cingular Wireless LLC ("Cingular") to terminate their wireless network sharing joint venture and for T-Mobile USA to acquire 100% ownership of the shared networks in California and Nevada for $2.5 billion. The purchase price of $2.5 billion for the GSM network in California/Nevada will be offset by $200 million related to the unwinding of the joint venture, resulting in a net cash payment of approximately $2.3 billion to Cingular. In addition, T-Mobile USA will:


-- provide network services to Cingular under a wholesale arrangement until Cingular's customers in these markets transition to the networks it will acquire through its pending merger with AT&T Wireless Services, Inc. ("AT&T Wireless");

-- replace its existing roaming agreement with Cingular with a new nationwide agreement with improved terms;

-- transfer 10 MHz of New York spectrum in exchange for certain California spectrum owned by Cingular as specified in the termination provisions of the joint venture agreement;

-- acquire an additional 10 MHz of spectrum from Cingular in certain key California markets for $180 million; and

-- receive an option to acquire an additional 10 MHz of spectrum in other key California markets from Cingular within two years.

While the joint venture has owned and successfully operated the networks that service both companies' customers in these markets since its formation in 2001, this new agreement with Cingular is expected to position T-Mobile USA for continued operational success and strong growth in the future.

"Consumers will be the real winners from this agreement," stated Robert Dotson, CEO and President of T-Mobile USA. "With this agreement, our customers can be confident they will continue to enjoy the reliable, high quality service currently provided by our world class network in California and Nevada without interruption. Also, the nationwide reciprocal roaming agreement ensures that our customers will have access to the nationwide networks of T-Mobile USA and Cingular, providing them with the greatest possible coverage."

"As a result of this agreement, T-Mobile will continue its dynamic development as one of the growth leaders of the U.S. mobile market," said Rene Obermann, CEO of T-Mobile International and Member of the Board of Management, Deutsche Telekom. "Within a short period of time, T-Mobile USA has built a customer base of nearly 1.7 million customers in California and Nevada. We anticipate that more than 20% of all T-Mobile USA's new customers will come from these markets."

Deutsche Telekom's projection for the T-Mobile USA customer base at the end of 2004 has increased to more than 16 million. The estimate for the long-term customer base has been increased to between 30 and 35 million from current market estimates of around 25 million over a ten-year horizon.

The wholesale arrangement for network services provides T-Mobile with a minimum guaranteed revenue stream of $1.2 billion based on network usage over a time period of up to four years. This agreement provides for the orderly transition of Cingular's customers off the networks in California/Nevada and New York City and ensures more efficient use of the California/Nevada network as T-Mobile USA's nearly 1.7 million customer base in these markets continues to grow to utilize the additional capacity being vacated by Cingular's customers.

The additional 10 MHz of spectrum T-Mobile USA will acquire for $180 million as part of this transaction is in San Francisco, Sacramento and Las Vegas. The purchase option for an additional 10 MHz relates to spectrum in Los Angeles and San Diego. T-Mobile USA will continue to have the use of Cingular's spectrum currently utilized by the joint venture until Cingular's customers transition off the networks.

The transaction is subject to the approval of Cingular's acquisition of AT&T Wireless by U.S. anti-trust authorities and the Federal Communications Commission (FCC), and other regulatory approvals. Closing of the transaction is expected for the beginning of 2005.

This press release contains forward-looking statements that reflect the current views of the Deutsche Telekom management with respect to future events. Forward-looking statements are based on current plans, estimates and projections, and therefore too much reliance should not be placed on them. Such statements are subject to risks and uncertainties, most of which are difficult to predict and are generally beyond Deutsche Telekom's control, including those described in the sections "Forward-Looking Statements" and "Risk Factors" of the Form 20-F submitted to the U.S. Securities and Exchange Commission. If these or other risks and uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, Deutsche Telekom's actual results may be materially different from those expressed or implied by such statements. Deutsche Telekom does not assume any obligation to update forward-looking statements to take new information or future events into account.

About T-Mobile USA

Based in Bellevue, WA, T-Mobile USA is a member of the T-Mobile International group, the mobile telecommunications subsidiary of Deutsche Telekom. T-Mobile USA operates the largest GSM/GPRS 1900 voice and data network in the country, reaching over 251 million people including roaming and other agreements. In addition, T-Mobile USA operates the largest carrier owned Wi-Fi (802.11b) wireless broadband network in the country, available in over 4,600 public access locations including Starbucks coffeehouses, Kinko's copy shops, Borders Books and Music, selected airports and American Airlines Admirals Clubs, United Airlines Red Carpet Clubs and Delta Air Lines Clubs. T-Mobile USA is committed to providing the best value in wireless service through its Get More(R) promise to provide customers with more minutes, more features and more service. For more information, visit the company web site at www.t-mobile.com.

About T-Mobile International:

T-Mobile International, one of Deutsche Telekom AG's four strategic divisions, is one of the world's leading international mobile communications providers. T-Mobile International's majority-held mobile companies today serve more than 63 million mobile customers in Europe and the U.S. For more information about T-Mobile International, please visit http://www.t-mobile.net/. For further information on Deutsche Telekom, please visit the company website at http://www.telekom.de/investor-

[Mango808]

Originally posted by jxb
Though, I kind of feel bad for all those Cingular users who didn't know any better and will now be roaming or using what AT&T calls the "most trusted network."

What's to feel bad about? Though T-Mobile will own the towers in California, both Cingular( to include AT&T Wireless) and T-Mobile will still share the towers the next four years as mentioned in more detailed press releases. Basically, everything will remain the same as it is for all consumers.

From the Cingular Forums:It's Official: Cingular/T-Mobile to end Network sharing CA/NV/NYC