The FCC (Federal Communications Commission) works on the closer of the proposed merger of AT&T and BellSouth. As the two companies are the joint owners of Cingular Wireless the merger will affect the wireless industry. In March after the announcement of the decision executives reported they would rebrand Cingular giving it the AT&T name.
The FCC twice postponed a vote on the deal's approval, but is going to make it done before November 3rd. AT&T has offered some concessions to win the FCC nod, including freezing some rates for rivals to lease access to its network for 30 months and offering basic high-speed Internet for $10 a month to new customers when bundled with voice service.
Sprint Nextel reported against the $67 billion merger, explaining it by reducing competition in the wired data networks.