CHICAGO-U.S. Cellular Corp. said it received $95.1 million from the sale of its stake in regional operator Midwest Wireless Holdings L.L.C. to Alltel Corp. U.S. Cellular said it also expects to receive an additional $10.5 million soon in connection with the sale.
The sale closed early this month. U.S. Cellular held about 11 percent of Midwest Wireless.
Meanwhile, Alltel received approval from the Federal Communications Commission for its $1 billion purchase of Midwest Wireless.
As part of the deal, Alltel must sell sell off operations in several Minnesota regions. Midwest served about 400,000 customers in southern Minnesota, northern and eastern Iowa and western Wisconsin.
Alltel already has received approval from the Justice Department for the Midwest acquisition, with similar restrictions on divestitures. The fifth-largest U.S. carrier agreed to purchase Midwest in November.
