U.S. Cellular Being Pressured by Investors to Sell
Mar 13, 2009, 7:53 AM by Eric M. Zeman
U.S. Cellular's majority owner, Telephone & Data Systems (TDS), is facing shareholder pressure to sell the nation's fifth-largest wireless network to a larger telecom provider. TDS owns 81% of U.S. Cellular and could soon face a proxy battle by shareholders who want a clear strategy from TDS on its future. Some of the disgruntled shareholders include Gamco Investors and Southeastern Asset Management, which combined own about 30% of TDS. U.S. Cellular has said it will deploy LTE, which is the next-generation technology being adopted by AT&T, Verizon and others, making it a compatible acquisition target in the future. U.S. Cellular has about 6 million customers. None of the companies involved officially commented on any plans.
|Sprint Needs to move||KennyJ19||
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