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ARLINGTON, Va.-TeleCorp PCS Inc. announced the placement of 7.5 million shares of issued and outstanding class A common stock by Dresdner Kleinwort Benson Private Equity Partners L.P., in connection with the merger of Dresdner Bank and Alliancz AG. In connection with the sale, Alexander Coleman, vice president and investment partner with Dresdner, resigned his position on TeleCorp’s board of directors.
The placement, handled by Goldman, Sachs & Co., increased TeleCorp’s public float to approximately 26.5 million shares.
