Technically Southwestern Bell was spun off from the AT&T breakup from the 80's. So basically SBC was one of many companies spun off from AT&T, then it bought u

Technically Southwestern Bell was spun off from the AT&T breakup from the 80's. So basically SBC was one of many companies spun off from AT&T, then it bought up several of the other Baby Bell companies spun off, too. Really, it was AT&T buying AT&T. It worked on paper, but the victor was still from the same tree.