Commentary: Can The SBC-AT&T Combo Make Money?

To listen to execs at SBC Communications Inc. (SBC) tell it, the company’s $16 billion acquisition of AT&T is an obvious coup. The San Antonio local-phone giant gets AT&T Corp., the nation’s preeminent long-distance network. Along with it comes a who’s who of business clients, not to mention enough savings — $15 billion — to virtually pay for the deal. No wonder SBC CEO Edward E. Whitacre Jr. calls the deal “a great opportunity.”