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Byline: edited by Greg Johnson
edited by Greg Johnson
AT&T Wireless sheds Bell stake
AT&T Wireless Services Inc. said Thursday it has agreed to sell its 19.9% stake in a wireless joint venture to Cincinnati Bell Inc. for $83 million. The move clears the decks for its merger with Cingular Wireless, the companies said. The joint venture partners have a non-compete clause that would be violated by the combination of AT&T Wireless and Cingular, which is expected to happen this year. On Sept. 30, 2005, the Bell can force Cingular to sell the stake or Cingular can require Cincinnati Bell to buy the position. Neither side must exercise its rights. The carriers also lowered roaming rates for five years as part of the …