February 19, 2004

Cingular almost pays extra $1.6bn

Ooops... As reported in the Times Online: bq. Sleepy lawyers and bankers, exhausted after working on the takeover battle for AT&T Wireless, almost cost Cingular, the winning bidder, an extra $1.6 billion because of a clerical slip-up. bq. Cingular was forced to file a new acquisition agreement with the US Securities and Exchange Commission last night because the costly error had not been noticed and was therefore legally binding. As one person said: bq. A senior City source tried to explain: “Look these guys haven’t slept for four days.” Heh... Posted by DaveH at February 19, 2004 11:18 AM