Telephone & Data Systems investor Gamco buys 288,954 shares

By Lisa Kerner

Charlotte, N.C., Dec. 22 - A group of Telephone & Data Systems Inc. investors led by Gamco Asset Management Inc. bought a net 288,954 shares of the company's stock through a series of buy and sell transactions between Oct. 20 and Dec. 18.

The shares were priced from $22.2625 to $32.73 each, it was reported in a schedule 13D/A filed with the Securities and Exchange Commission.

Gamco beneficially owns 4,742,789 shares, or 8.92%, of the Chicago telecommunications services company.

Telephone & Data Systems was one of several companies Gamco Investors, Inc. said it felt could use a change to its board of directors. In September, Gamco said it may contact individuals to gauge their interest and qualifications to join the boards of those public companies, a prior SEC filing said.

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