Dobson Communications Corp. denied a Standard & Poor’s report that the regional wireless operator was considering a sale of its financially troubled American Cellular Corp. subsidiary.
The S&P online newsletter cited unnamed sources and speculated that strong trading of Dobson’s bonds was linked to a possible offer. The report named U.S. Cellular Corp. and Alltel Corp. as possible buyers.
More than 22 million Dobson shares traded hands June 2 compared with its three-month average of 1.5 million shares per day. Dobson’s stock climb nearly 17 percent to $2.86 per share.
Dobson acquired controlling interest in American Cellular from former partner AT&T Wireless Services Inc. in 2003. Dobson and AWS acquired American Cellular in 2000 for $2.3 billion in what was seen as a strengthening of ties between AWS and Dobson. AWS eventually sold its interest in both American Cellular and Dobson ahead of its own acquisition by Cingular Wireless L.L.C. last year.
