Cingular Ups Ante In AT&T Wireless Bid

If successful, the deal would vault Cingular from its perch as the second-largest wireless provider in the U.S. to the largest with 55 million subscribers, while hastening the expected consolidation in the U.S. wireless industry.

British carrier Vodafone declined to further the bidding war after reportedly offering $38 billion for AT&T Wireless. In a statement, Vodafone said it pulled out of the auction process for AT&T Wireless after “concluding it was no longer in shareholder’s best interests” to continue bidding.

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