Cingular Said to Be Considering IPO

Cingular Wireless may sell shares in an initial public offering next year and use proceeds to expand operations, people familiar with the situation said.

Owners SBC Communications Inc. and BellSouth Corp. are considering a sale of some of Cingular’s shares to the public and would keep majority control of the Atlanta-based carrier, said the sources, who asked to remain anonymous.

Cingular delayed IPO plans two years ago amid falling prices in wireless shares.

The share sale may value the whole of the company at more than $30 billion, said analysts including Michael Bowen of SoundView Technology Group.

From Bloomberg News