SBC Applauds AT&T Stockholder Action on Merger of Companies
Approval Vote Keeps Merger on Fast Track, Brings Tangible Benefits for Customers Closer
San Antonio, Texas, June 30, 2005
SBC Communications Inc. (NYSE: SBC) Chairman and Chief Executive Officer Edward E. Whitacre, Jr. today congratulated AT&T stockholders on their vote in favor of the merger of the two companies. The stockholder action came during the AT&T annual meeting in Denver.
"We applaud AT&T stockholders for the strong message they are sending about the need for more vibrant competition and customer choice in the communications marketplace," said Whitacre. "The combination of SBC and AT&T will speed the delivery of new technologies to customers and is a logical step in assuring America's role as a leader in global communications."
The merger will put to best use the strengths of both companies by bringing together SBC's expertise in serving consumer and small business customers with AT&T's leadership in providing voice and data services to large business customers.
These complementary sets of strengths will help enable a host of new technologies and services to consumers and businesses, and enhance customer choice.
In addition to AT&T stockholder approval, merger clearances continue at a strong pace on the state level. The companies have cleared regulatory hurdles in 25 states and in the District of Columbia. Eleven states with notice requirements or approval authority remain to be completed. As well, federal and international reviews are underway.
About SBC
SBC Communications Inc. is a Fortune 50 company whose subsidiaries, operating under the SBC brand, provide a full range of voice, data, networking, e-business, directory publishing and advertising, and related services to businesses, consumers and other telecommunications providers. SBC holds a 60 percent ownership interest in Cingular Wireless, which serves more than 50.4 million wireless customers. SBC companies provide high-speed DSL Internet access lines to more American consumers than any other provider and are among the nation's leading providers of Internet services. SBC companies also now offer satellite TV service. Additional information about SBC and SBC products and services is available at www.sbc.com.
