U.S. Cellular's owner to seek for a buyer?
It looks like the regional phone company, Telephone and Data Systems (TDS), may need to put itself on sale for the bigger rivals, due to continuous loss of market share and dated technology. Although TDS owns 81% of the fifth-largest U.S. wireless operator, U.S. Cellular, it has been experiencing difficulties picking the right strategy lately. Having in mind the current economic climate, the company’s situation seems to have gotten worse, since now a potential proxy battle against Mario Gambelli’s Gamco Investors (owning a 14.8% stake) might just be coming its way. In addition, Southeastern Asset Management, which has a 15% stake of TDS, is insisting that the company puts itself on sale, according to people who are said to be familiar with the situation, but are not authorized to make public statements on the topic.
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