AT&T Corp. shareholders on Thursday voted to approve SBC Communications Inc.s $16 billion acquisition of AT&T.
Approximately 98 percent of voting shareholders approved the landmark agreement with less than 1 percent opposed, The Associated Press reported.
AT&T Chairman and CEO Dave Dorman said the merger is expected to close in late 2005 or early 2006 following regulatory approvals and other closing conditions.
The pending acquisition marks the end of a legacy for AT&T, a company whose roots date back to the invention of the telephone.
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