AT&T Wireless Reportedly to Consider Merger With Nextel
By Tim Arango
TheStreet.com/NYTimes.com Staff Reporter
9/7/00 4:57 PM ET
Updated from 7:51 a.m. EDT
AT&T Wireless (AWE:NYSE - news) will weigh a possible merger with Nextel Communications (NXTL:Nasdaq - news) at a board meeting later this month, The Wall Street Journal reported Thursday, according to people familiar with the matter.
The meeting will also include a discussion of other strategic options, according to the article, in an effort to boost its languishing stock price. New York-based AT&T Wireless went public a few months ago as a tracking stock of its parent, AT&T (T:NYSE - news).
A deal with McLean, Va.-based Nextel would create a combined company with 18 million customers and place it in a tie for second place with SBC Communications (SBC:NYSE - news) among wireless companies, after Verizon Wireless (VZ:NYSE - news).
Other possible deals the company is considering is a merger with U.K. telecom leader British Telecommunications, the paper said.
AT&T Wireless finished down 25 cents or 1%, at $25.25, while Nextel finished up $2.94, or 6%, at $53.
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