BUSINESS BRIEFS.(TO THE POINT)

TELECOM

SBC to acquire AT&T for $16 bil

The deal, approved by both companies' boards, could mark the end of a business icon once known as Ma Bell whose roots stretch back to the telephone's invention. SBC has about 50 million local-telephone customers and owns 60% of Cingular Wireless, which has 46 million customers. AT&T has 24 million long-distance customers. The acquisition is subject to approval by shareholders, 2 federal agencies and at least 26 states. SBC rose 0.5% to 23.75. AT&T fell 2.5% to 19.19.

FINANCE

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