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TDS, U.S. Cellular moving to New York Stock Exchange

The Capital Times  —  9/03/2008 9:32 pm

Chicago-based Telephone and Data Systems Inc., which inclues TDS Telecom and TDS Metrocom, and United States Cellular Corp. on Wednesday announced that they intend to switch to the New York Stock Exchange, effective Sept. 15.

Both companies currently trade on the American Stock Exchange.

Their symbols will remain the same: TDS Common Shares will continue to trade as "TDS", TDS Special Common Shares will continue to trade as "TDS.S", and U.S. Cellular Common Shares will continue to trade as "USM".

"Listing on the New York Stock Exchange is a significant milestone for our companies," TDS President and CEO and U.S. Cellular Chairman LeRoy T. Carlson Jr. said in a statement. "We believe that this transition will enable us to better serve our investors, and will provide increased visibility for our stocks. The NYSE has made significant investments in technology, which we believe will provide the best possible liquidity and the highest-quality market for our stocks."

TDS provides wireless, local and long-distance phone, and broadband services to nearly 7.4 million customers in 36 states through its business units. Founded in 1969 and headquartered in Chicago, TDS employed 12,400 as of June 30.

U.S. Cellular, the nation's sixth-largest, full-service wireless carrier, serves nearly 6.2 million customers in 26 states. The Chicago-based company employed 9,000 as of June 30.

The Capital Times  —  9/03/2008 9:32 pm