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Verizon Reaps $800 Million From TSI Sale

Discussion in 'GENERAL Wireless Discussion' started by KevinJames, Dec 11, 2001.

  1. KevinJames

    KevinJames WA's 1st retired mod
    Senior Member

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    Following copied from: WirelessWeek

    Quoted from article By Kristy Bassuener
    December 10, 2001

    Verizon Communications Inc. will rake in $800 million from the sale of TSI Telecommunication Inc., its subsidiary that processes customers' wireless phone bills. Investment company GTCR Golder Rauner LLC will pay cash for the Tampa, Fla.-based company.

    Verizon says it is selling the unit to focus more tightly on its core phone business. TSI employs roughly 800 people, and counts carriers including Verizon Wireless and Cingular Wireless among its clients.

    Separately, Verizon Wireless said it would acquire Dobson Communications Corp.'s 75 percent stake in an Arizona wireless system for $85 million. The system, operating in Gila and Pinal counties, is called Arizona RSA No. 5. The deal is expected to close in the first quarter of 2002.
     

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