FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 10, 1996
TELEPHONE AND DATA SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Iowa 1-8251 36-2669023
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
30 North LaSalle Street, Chicago, Illinois 60602
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (312) 630-1900
Not Applicable
(Former name or former address, if changed since last report)
The Exhibit Index is Located on Page 4 of 5 Total Pages.
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Item 5. Other Events.
On January 10, 1996, the Company announced a proposal to transfer its
minority ownership interests in certain cellular markets to United States
Cellular Corporation for approximately $116.7 million. The minority interests
subject to the proposal represent approximately 675,000 population equivalents.
This Current Report on Form 8-K is being filed for the purpose of
filing the news release issued by the Company relating to such announcement as
an exhibit.
Item 7. Financial Statements and Exhibits
(c) Exhibits
The exhibits accompanying this report are listed in the accompanying
Exhibit Index.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereto duly authorized.
Telephone and Data Systems, Inc.
(Registrant)
Date: January 11, 1996
By: /s/ GREGORY J. WILKINSON
------------------------
Gregory J. Wilkinson
Vice President and Controller
(principal accounting officer)
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EXHIBIT INDEX
Exhibit Number Description of Exhibit Sequentially Numbered Page
99 News Release dated 5
January 10, 1996
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Exhibit 99
FOR RELEASE: IMMEDIATE
TDS ANNOUNCES PROPOSAL TO TRANSFER CELLULAR
MINORITY POPS TO U.S. CELLULAR
January 10, 1996, Chicago, Illinois - Telephone and Data Systems, Inc. [AMEX:
TDS] announced today that it has proposed the transfer of its minority ownership
interests in certain cellular markets to United States Cellular Corporation
[AMEX: USM]. The minority interests subject to the proposal represent
approximately 675,000 population equivalents ("pops"). The proposed purchase
price is approximately $116.7 million. The form of consideration to be paid by
USM is subject to negotiation and would likely consist of cash or USM common
stock or a combination thereof.
The TDS proposal is subject to negotiation and has been referred to a previously
established independent committee of the USM board of directors. The independent
committee has retained Lazard Freres & Co. as its financial advisor. The
proposed transaction will be subject to approval by the independent committee of
the USM board of directors, to definitive documentation, and to compliance with
regulatory requirements.
TDS is a Chicago-based telecommunications company with established cellular
telephone, local telephone and radio paging operations and developing personal
communications services operations. TDS strives to build value for its
shareholders by providing excellent communications services in attractive,
closely related segments of the telecommunications industry.
Contacts: Karen M. Stewart Murray L. Swanson
Vice President - Investor Relations Executive Vice President - Finance
(608) 828-8316 (312) 630-1900
e-mail:[email protected] e-mail:[email protected]
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