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U.S. Cellular, AT&T Wireless Swap Licenses

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Mar 10, 2003, 9:59 AM   by (staff)

U.S. Cellular and AT&T Wireless have struck a deal to exchange wireless properties. U.S. Cellular will acquire PCS licenses in 13 states that include such markets as St. Louis and Springfield, Mo., Indianapolis, Ind., Oklahoma City, Okla., and Portland, Maine, and minority licenses in six existing U.S. Cellular markets. In addition, U.S. Cellular will receive approximately $31 million in cash. In exchange, U.S. Cellular will transfer its cellular licenses in Georgia and areas of northern Florida to AT&T Wireless, along with 141,000 customers, retail stores, authorized agents, and 205 cell sites throughout those areas. The transaction is expected to close in the third quarter.


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