NEW YORK - SBC is acquiring AT&T in a deal that will create the largest telecommunications company in the world. The plan was announced following a meeting between SBC and AT&T officials.
SBC spokesman Larry Solomon was quoted as saying, "It's a done deal. We just agreed to acquire AT&T." The deal is expected to close by the first half of 2006. SBC has about 50 million local telephone customers.
AT&T's roots stretch back to 1875 when Alexander Graham Bell invented the telephone. AT&T handled most of the telephone business up until 1984 when it was broken apart.
