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U.S. Lets Phone Firms Buy Back Spectrum

IN BRIEF / TELECOM

August 12, 2004|From Reuters

Cingular Wireless cleared a hurdle to its acquisition of AT&T Wireless Services Inc. when antitrust authorities said its parent companies, SBC Communications Inc. and BellSouth Corp., could buy back some licenses they were forced to divest when they formed the joint venture four years ago.

The Justice Department said it had agreed to modify a 2000 agreement with SBC and BellSouth that had barred them from reacquiring spectrum licenses in California and Indiana.

The agreement is subject to court approval.

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