|
|
Article: HickoryTech Announces Agreement to Sell Wireless Properties; Transaction With Western Wireless Provides Strategic and Financial Benefits.
- Article from:
- PR Newswire
- Article date:
- September 18, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
HickoryTech Corporation announced today that it has signed a definitive agreement to sell all of its wireless business to Western Wireless Corporation in exchange for a value of $25 million, subject to working capital and construction in progress adjustments to be determined at closing. The selling price is comprised of approximately one million shares of HickoryTech common stock currently held by Western Wireless and $12.8 million in cash.
HickoryTech, through its subsidiary Minnesota Southern Wireless Company (MSWC), owns and operates wireless telephone businesses in south central Minnesota and in the six county ring surrounding the metropolitan ...