SBC (SBC Quote) and BellSouth (BLS Quote) are looking to settle up the tab for Cingular's buyout of AT&T Wireless this week.
The $41 billion deal, which created the largest cell-phone service in the nation, gained final approval Tuesday, and now Cingular joint owners SBC and BellSouth are finishing the financing.
SBC says it will sell $5 billion in long-term debt to pay down about half of the $8.75 billion short-term loans and commercial paper debt the company took on to pay for its share of the deal, according to a filing with the Securities and Exchange Commission Friday.
Meanwhile, BellSouth said Friday it has closed the sale of five of its Latin American wireless holdings. Telefonica's (TEF Quote) wireless unit, Telefonica Moviles(TEM Quote), will pay BellSouth $2.3 billion for its stake in mobile-phone operations in Colombia, Nicaragua, Peru, Uruguay and Venezuela. ...
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