Wednesday, October 11, 2006

U.S. Cellular gets $95.1M from Midwest Wireless Stake Sale

Oct 11 (Reuters) - United States Cellular Corp. (USM.A: Quote, Profile, Research) on Wednesday said it received $95.1 million and expects to get up to an additional $10.5 million from the sale of its interest in Midwest Wireless Holdings to Alltel Corp. (AT.N: Quote, Profile, Research).

U.S. Cellular had an interest of about 14 percent in Midwest Wireless Communications L.L.C., which was convertible into an interest of about 11 percent in Midwest Wireless Holdings L.L.C.
The deal was announced in November last year when Alltel had agreed to acquire Midwest Wireless Holdings for about $1.075 billion in cash.

Source: Reuters

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