Under the terms of the letter of intent, Cingular would receive
Triton PCS's network assets and customers in Virginia. Triton PCS
would receive certain AT&T Wireless network assets and customers in
North Carolina and Puerto Rico, plus $175 million in cash from
Cingular. Employees in the affected markets will transition with the
business.
...
Further, Triton PCS and Cingular will enter into a new long-term,
reciprocal roaming agreement, which will allow Cingular and Triton
PCS subscribers to benefit from Cingular's extensive nationwide
network and Triton PCS's strong regional network.
"Our agreements with Triton PCS build on our planned acquisition of
AT&T Wireless. When all are finalized, we will have spectrum and
coverage in all top 100 U.S. metro areas -- yet another move in
delivering on our promise to be the premier wireless carrier in the
U.S.," said Stan Sigman, President & CEO of Cingular Wireless. "The
agreement also promotes competition by creating a strong new regional
provider in North Carolina."
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