Business Services Industry
ANNUAL MEETINGS: TELEPHONE & DATA SYSTEMS; VITA FOOD PRODUCTS.
Crain's Chicago Business, July, 1999
Likely to spin off Aerial, TDS looking to extend phone lines Late last year, Telephone & Data Systems Inc. announced it intended to either sell or spin off its 82%-owned Aerial Communications Inc. unit. Now, it appears it'll be a spinoff. In June, a Finnish suitor for Aerial, Sonera Ltd., let lapse its right of first negotiation to acquire Aerial.
With no offers on the horizon, Telephone & Data Systems (TDS) executives said they're proceeding with plans to spin off Aerial to shareholders by yearend. The deal would take Chicago-based TDS out of the expanding personal communications services (PCS) business and leave it reliant on its bread-and-butter phone business, which serves 550,000 customers in 28 states, and its 81%-owned U.S. Cellular Corp....
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