US phone company BellSouth has agreed to sell its Latin American wireless assets to Telefonica of Spain for about $5.9bn.(€4.77bn)

Cingular Wireless, the joint venture between SBC Communications Inc and BellSouth Corp, has officially confirmed it has won the bidding for AT&T Wireless.

Vodafone group's shares slipped nearly 4% this morning as concerns mounted on the mobile operator getting involved in a bidding battle to takeover US company AT&T Wireless Services.

It has been reported that Vodafone, the word's number one mobile operator, has bid around $35bn (€27.47bn) for AT&T Wireless.

US investors today used the latest round of disappointing economic data as an excuse to gather profits and send stocks lower.

The third largest wireless network in the US , AT&T Wireless, yesterday formally put itself up for sale.

US investors intent on collecting profits from Friday’s big gains looked past a series of positive earnings reports today and sent blue chip stocks moderately lower. The falling dollar and rising price of oil contributed to the selling.

Wall Street nudged higher to fresh 19-month highs today as a trio of economic reports – one on gross domestic product, the others on consumer sentiment and spending – provided investors with additional evidence of an improving economy.

Nortel Networks [NYSE/TSE: NT] has signed a $250m deal to build out 3G networks for Telefonica Moviles SA in Spain and Germany.

Ericsson has claimed the lion's share of a £2.1bn contract with Cingular Wireless.

Efforts to build a national memorial honouring Martin Luther King Jr have stalled because the American civil rights leader’s family wants money to use his name and likeness in the marketing campaign.