Cingular to resubmit bid for AT&T Wireless, source says

<p>Cingular Wireless plans to resubmit its all-cash offer to buy AT&T Wireless, its initial overture derailed by a potential bidding war with at least three other potential suitors, a source familiar with the situation said Thursday.</p><p>Two weeks ago, Atlanta-based Cingular sent what it considered a formal offer of about $30 billion, or $11 a share, to AT&T Wireless, said the source, who spoke to The Associated Press on condition of anonymity.</p><p>Because AT&T Wireless decided to conduct a formal bidding process in which it said it would entertain offers from several companies, Cingular is forced to resubmit its offer, the source said.</p><p>So far, the only party to officially acknowledge that it is mulling a bid is NTT DoCoMo of Japan, which already owns 16 percent of AT&T Wireless. Vodafone PLC of Britain and Nextel Communications are also said to have contacted AT&T Wireless to express interest.</p><p>It was unclear whether Cingular would increase its offer to better compete with its rival suitors or to reflect AT&T Wireless rising stock price, which has risen sharply since the initial bid.</p><p>On Thursday, shares of AT&T Wireless were off 1 cent at $11.01 on the New York Stock Exchange, up about 40 percent since the takeover speculation began earlier this month.</p><p>The boards of BellSouth Corp. and SBC Communications Inc., which jointly own Cingular, have authorized Cingular to resubmit its bid by the Feb. 13 deadline set by AT&T Wireless, the source said.</p><p>A spokesman for AT&T Wireless, the third largest U.S. cell phone carrier, did not immediately return a call seeking comment.</p>

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