[09-27-2004] Cingular Plans on Selling Interactive Sector
Quote:
ingular Wireless said Monday that it plans to sell a wireless data network that supports about a fourth of the world's BlackBerry users to a New York-based fund manager.
Terms of the deal between Cingular Wireless and Cerberus Capital Management were not disclosed. Cerberus and its affiliated entities manage funds valued at more than $14 billion.
Representatives of neither company immediately returned calls seeking comment.
The purchase will include Cingular's 10-year-old Mobitex wireless data infrastructure, which provides service to more than 400 companies and an estimated quarter of the world's BlackBerry users. Manufactured by Research In Motion, BlackBerry mobile e-mail devices have taken the corporate world by storm and spawned a whole generation of copycats. There are 1.34 million BlackBerry subscribers worldwide, according to RIM.
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