Business Services Industry
Alaskas Cook Inlet Region Inc. Nears Deal on VoiceStream Stake.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, December, 2000 by Dobbyn, Paula
Dec. 14--Cook Inlet Region Inc. moved a step closer Wednesday to a windfall.
The Federal Communications Commission approved the Anchorage Native corporation's request to convert its limited partnership interest in VoiceStream Wireless Corp. into VoiceStream stock, said CIRI spokeswoman Allison Knox.
Once the transfer is complete, CIRI will own 7.5 million shares of VoiceStream which, as of the close of business Wednesday, were valued at $860 million.
CIRI's board of directors plans to meet on Friday to review a recommendation from chief executive and president Carl Marrs on whether and how much stock to cash out, and whether to provide shareholders with a special dividend. A decision may be announced Friday, Knox said.
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