Business Services Industry
German transaction takes TDS overseas.(Telephone & Data Systems Inc. gets money to expand)(Statistical Data Included)
Crain's Chicago Business, June, 2001 by Murphy, H. Lee
Telephone & Data Systems Inc., a Chicago company that has carved out phone service niches in small-town USA, is going international. A year ago, Telephone & Data Systems (TDS) sold its majority-owned Aerial Communications Inc. subsidiary to Bellevue, Wash.-based VoiceStream Wireless Corp., which in turn was acquired late last month by German giant Deutsche Telekom AG-yielding for TDS some $570 million in cash and 131.5 million shares in Deutsche Telekom, equal to a 3% stake.
Meanwhile, TDS' 82%-owned subsidiary, U.S. Cellular Corp., is a holder of almost 13 million shares of Vodafone Group plc, a London-based global wireless company, inherited via an earlier acquisition. At the end of the first quarter, TDS had $3.73 billion in marketable securities. At...
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