Court Upholds Sale Of Mccaw To At&T;
A federal appeals court upheld on Friday a decision that permitted telecommunications giant AT&T; to acquire McCaw Cellular for $11.5 billion last year.
The appellate court for the District of Columbia affirmed a decision by U.S. District Judge Harold Greene last August.
Greene, who oversees a consent decree that broke up AT&T; in 1984, waived a provision in the decree, freeing AT&T; to acquire McCaw, the nation’s largest cellular company.
AT&T; needed the waiver because McCaw owned some cellular properties with several regional Bell companies. Under the decree, AT&T; is not permitted to own Bell company assets.