LAKE CHARLES, La.-US Unwired Inc. completed two transactions in which it exchanged class A common stock for the minority interests in its Sprint PCS operating subsidiaries, Louisiana Unwired L.L.C. and Texas Unwired.
“These transactions eliminate all of US Unwired’s minority interests and increase the population that the company reports under its Sprint PCS affiliation to 9.8 million,” said Robert Piper, president and chief executive officer of US Unwired. “These acquisitions greatly simplify our corporate structure and allow our investors to better understand the company.”
US Unwired purchased the remaining 6.14 percent of Louisiana Unwired from Cameron Communications Corp. for 4.6 million shares of US Unwired common stock. Louisiana Unwired owned 80 percent of Texas Unwired, with US Unwired acquiring the outstanding 20 percent from Butler Waddell Interest Ltd. and XIT Leasing Inc. for 307,664 shares of common stock.
