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Telephone & Data investor sells shares; reduces ownership to 4.5%
By Lisa Kerner
Charlotte, N.C., Dec. 04 - Southeastern Asset Management, Inc. sold 225,300 shares of Telephone & Data Systems, Inc. between Oct. 6 and Dec. 3.
The shares were priced from $29.77 to $32.96 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Friday.
In May, Southeastern suggested the company sell itself or its wireless assets to a national wireless carrier or simplify its capital structure.
Southeastern also wanted the company to repurchase 20 million shares using cash on hand by conducting a Dutch auction tender offer.
The shareholder beneficially owns 2,252,900 shares, or 4.5%, of the Chicago telecommunications company.
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