was rising for a second day in the Wednesday premarket following a report it is in merger talks with
The two sides recently began another round of discussions about a merger or acquisition following an initial round last year, and could put together a deal soon,
The Wall Street Journal
The newspaper previously reported that Cingular is weighing an initial public offering and is particularly interested in AT&T Wireless because of its strong balance sheet and large number of business subscribers. Representatives from Cingular's parent companies refused to comment on the story.
AT&T Wireless was recently up 60 cents, or 7%, to $9.15 on the Instinet premarket session. The shares rose more than 5% in Tuesday's session as rumors of the talks spread.