Positives for At&t

Positives for AT&T:

• Wireless acquisition can advance both- streamline domestic operations and grow company’s international presence from 25% to 40% of revenues.
• Expansion in Europe where AT&T is restricted by regulations
• McCaw’s licenses advantage in 5 out of 10 most populated metropolitan areas. 80% of those licenses were located in 30 most populated areas.
• Cellular would enable AT&T to offer both local cellular and long-distance services, bypassing RBOCs wires and lining up users for the AT&T network.
• Expect moderate reduction in capex per net new subscriber.

Positives for McCaw:

• Enhance customer marketing and global presence, which can help McCaw enter emerging foreign markets

Positives for AT&T:

• Wireless acquisition can advance both- streamline domestic operations and grow company’s international presence from 25% to 40% of revenues.
• Expansion in Europe where AT&T is restricted by regulations
• McCaw’s licenses advantage in 5 out of 10 most populated metropolitan areas. 80% of those licenses were located in 30 most populated areas.
• Cellular would enable AT&T to offer both local cellular and long-distance services, bypassing RBOCs wires and lining up users for the AT&T network.
• Expect moderate reduction in capex per net new subscriber.

Positives for McCaw:

• Enhance customer marketing and global presence, which can help McCaw enter emerging foreign markets

Negatives:

Concerns:

• AT&T’s declining market share
• McCaw’s business philosophy of importance of aggressive growing and actively controlling the businesses in which one has a stake
• Agreement with LIN broadcasting
• Legislative response by RBOCs.
• Financial success for cellular is not assured.
• Health hazard
• Regulatory Uncertainity

Synergies:

• Cost savings
• Increased Advertising power
• Potential reduction in financing cost through SG&A consolidation
• Use of well recognized AT&T name
• Ability to refinance compant debt at AT&T’s more favourable AA credit rating
• Local access fee reductionsnand instant access to state-of-the-art technology without directly confronting RBOCs or having to infuse capital to build an independent AT&T cellular network

Positives for AT&T:

• Wireless acquisition can advance both- streamline domestic operations and grow company’s international presence from 25% to 40% of revenues.
• Expansion in Europe where AT&T is restricted by regulations
• McCaw’s licenses advantage in 5 out of 10 most populated metropolitan areas. 80% of those licenses were located in 30 most populated areas.
• Cellular would enable AT&T to offer both local cellular and long-distance services, bypassing RBOCs wires and lining up users for the AT&T network.
• Expect moderate reduction in capex per net new subscriber.

Positives for McCaw:

• Enhance customer marketing and global presence, which can help McCaw enter emerging foreign markets

Negatives:

Concerns:

• AT&T’s declining market share
• McCaw’s business philosophy of importance of aggressive growing and actively controlling the businesses in which one has a stake
• Agreement with LIN broadcasting
• Legislative response by RBOCs.
• Financial success for cellular is not assured.
• Health hazard
• Regulatory Uncertainity

Synergies:

• Cost savings
• Increased Advertising power
• Potential reduction in financing cost through SG&A consolidation
• Use of well recognized AT&T name
• Ability to refinance compant debt at AT&T’s more favourable AA credit rating
• Local access fee reductionsnand instant access to state-of-the-art technology without directly confronting RBOCs or having to infuse capital to build an independent AT&T cellular network

Positives for AT&T:

• Wireless acquisition can advance both- streamline domestic operations and grow company’s international presence from 25% to 40% of revenues.
• Expansion in Europe where AT&T is restricted by regulations
• McCaw’s licenses advantage in 5 out of 10 most populated metropolitan areas. 80% of those licenses were located in 30 most populated areas.
• Cellular would enable AT&T to offer both local cellular and long-distance services, bypassing RBOCs wires and lining up users for the AT&T network.
• Expect moderate reduction in capex per net new subscriber.

Positives for McCaw:

• Enhance customer marketing and global presence, which can help McCaw enter emerging foreign markets

Negatives:

Concerns:

• AT&T’s declining market share
• McCaw’s business philosophy of importance of aggressive growing and actively controlling the businesses in which one has a stake
• Agreement with LIN broadcasting
• Legislative response by RBOCs.
• Financial success for cellular is not assured.
• Health hazard
• Regulatory Uncertainity

Synergies:

• Cost savings
• Increased Advertising power
• Potential reduction in financing cost through SG&A consolidation
• Use of well recognized AT&T name
• Ability to refinance compant debt at AT&T’s more favourable AA credit rating
• Local access fee reductionsnand instant access to state-of-the-art technology without directly confronting RBOCs or having to infuse capital to build an independent AT&T cellular network

Positives for AT&T:

• Wireless acquisition can advance both- streamline domestic operations and grow company’s international presence from 25% to 40% of revenues.
• Expansion in Europe where AT&T is restricted by regulations
• McCaw’s licenses advantage in 5 out of 10 most populated metropolitan areas. 80% of those licenses were located in 30 most populated areas.
• Cellular would enable AT&T to offer both local cellular and long-distance services, bypassing RBOCs wires and lining up users for the AT&T network.
• Expect moderate reduction in capex per net new subscriber.

Positives for McCaw:

• Enhance customer marketing and global presence, which can help McCaw enter emerging foreign markets

Negatives:

Concerns:

• AT&T’s declining market share
• McCaw’s business philosophy of importance of aggressive growing and actively controlling the businesses in which one has a stake
• Agreement with LIN broadcasting
• Legislative response by RBOCs.
• Financial success for cellular is not assured.
• Health hazard
• Regulatory Uncertainity

Synergies:

• Cost savings
• Increased Advertising power
• Potential reduction in financing cost through SG&A consolidation
• Use of well recognized AT&T name
• Ability to refinance compant debt at AT&T’s more favourable AA credit rating
• Local access fee reductionsnand instant access to state-of-the-art technology without directly confronting RBOCs or having to infuse capital to build an independent AT&T cellular network

Positives for AT&T:

• Wireless acquisition can advance both- streamline domestic operations and grow company’s international presence from 25% to 40% of revenues.
• Expansion in Europe where AT&T is restricted by regulations
• McCaw’s licenses advantage in 5 out of 10 most populated metropolitan areas. 80% of those licenses were located in 30 most populated areas.
• Cellular would enable AT&T to offer both local cellular and long-distance services, bypassing RBOCs wires and lining up users for the AT&T network.
• Expect moderate reduction in capex per net new subscriber.

Positives for McCaw:

• Enhance customer marketing and global presence, which can help McCaw enter emerging foreign markets

Negatives:

Concerns:

• AT&T’s declining market share
• McCaw’s business philosophy of importance of aggressive growing and actively controlling the businesses in which one has a stake
• Agreement with LIN broadcasting
• Legislative response by RBOCs.
• Financial success for cellular is not assured.
• Health hazard
• Regulatory Uncertainity

Synergies:

• Cost savings
• Increased Advertising power
• Potential reduction in financing cost through SG&A consolidation
• Use of well recognized AT&T name
• Ability to refinance compant debt at AT&T’s more favourable AA credit rating
• Local access fee reductionsnand instant access to state-of-the-art technology without directly confronting RBOCs or having to infuse capital to build an independent AT&T cellular network

Positives for AT&T:

• Wireless acquisition can advance both- streamline domestic operations and grow company’s international presence from 25% to 40% of revenues.
• Expansion in Europe where AT&T is restricted by regulations
• McCaw’s licenses advantage in 5 out of 10 most populated metropolitan areas. 80% of those licenses were located in 30 most populated areas.
• Cellular would enable AT&T to offer both local cellular and long-distance services, bypassing RBOCs wires and lining up users for the AT&T network.
• Expect moderate reduction in capex per net new subscriber.

Positives for McCaw:

• Enhance customer marketing and global presence, which can help McCaw enter emerging foreign markets

Negatives:

Concerns:

• AT&T’s declining market share
• McCaw’s business philosophy of importance of aggressive growing and actively controlling the businesses in which one has a stake
• Agreement with LIN broadcasting
• Legislative response by RBOCs.
• Financial success for cellular is not assured.
• Health hazard
• Regulatory Uncertainity

Synergies:

• Cost savings
• Increased Advertising power
• Potential reduction in financing cost through SG&A consolidation
• Use of well recognized AT&T name
• Ability to refinance compant debt at AT&T’s more favourable AA credit rating
• Local access fee reductionsnand instant access to state-of-the-art technology without directly confronting RBOCs or having to infuse capital to build an independent AT&T cellular network

Positives for AT&T:

• Wireless acquisition can advance both- streamline domestic operations and grow company’s international presence from 25% to 40% of revenues.
• Expansion in Europe where AT&T is restricted by regulations
• McCaw’s licenses advantage in 5 out of 10 most populated metropolitan areas. 80% of those licenses were located in 30 most populated areas.
• Cellular would enable AT&T to offer both local cellular and long-distance services, bypassing RBOCs wires and lining up users for the AT&T network.
• Expect moderate reduction in capex per net new subscriber.

Positives for McCaw:

• Enhance customer marketing and global presence, which can help McCaw enter emerging foreign markets

Negatives:

Concerns: