Gabelli to withhold support for Telephone and Data Systems director nominees

By Lisa Kerner

Charlotte, N.C., May 16 - Investor Mario J. Gabelli said he and his affiliates will withhold their support for all director nominees for election to the board of Telephone & Data Systems, Inc. as well as to the board of its subsidiary US Cellular Corp. at the annual meeting on Thursday.

Gabelli, in a letter to Telephone & Data Systems president and chief executive officer Leroy T. Carlson Jr., asked if the company had received an offer from Southeastern Asset Management, Inc. and if so, why was it not disclosed to shareholders.

The letter was included in a schedule 13D filed with the Securities and Exchange Commission.

Gabelli and his affiliates have a 6.88% stake in Telephone & Data, a Chicago telecommunications company, and a 5.84% stake in US Cellular.

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