Convergys closes $320M sale of wireless operations to AT&T

Convergys Corp. has closed on the $320 million sale to AT&T Inc. of its ownership in two wireless operations in Cincinnati.

?This transaction simplifies our corporate structure, increases our financial flexibility, and provides investors better visibility into our recurring earnings stream from our operating units,? Jeff Fox, CEO of downtown-based Convergys (NYSE: CVG), said in a news release.

The sale involves a 34 percent stake in the Cincinnati SMSA wireless operation and a 45 percent limited partnership interest in Cincinnati SMSA Tower Holdings, a cellular tower holding...

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