5 Said to Be Interested in AT&T; Wireless Services
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AT&T; Wireless Services Inc. has been approached by at least five potential buyers, but talks remain preliminary and no formal offer has been made for the No. 3 U.S. wireless telephone company, people familiar with the situation said.
The interest in AT&T; Wireless, which has a market capitalization of about $26.7 billion, comes as the crowded U.S. wireless industry looks for ways to cut costs and ease competition to offset slowing subscriber growth.
The firm has gotten overtures from carriers ranging from larger rival Cingular Wireless to Japan’s NTT Docomo Inc., which owns 16% of AT&T; Wireless, the sources said.
Shares of Redmond, Wash.-based AT&T; Wireless closed at $9.81, down 18 cents, on the NYSE. The stock price has jumped 20% this week amid media reports of takeover talks.
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