Citi Maintains Hold Rating On USM

Citi has issued a report reiterating its Hold Rating for United States Cellular Corp USM. Citi writes, "Management was supportive of the prospects for industry consolidation that would allow for USM to better differentiate itself as a value leader within the wireless category, while positioning itself as a possible buyer of any divested spectrum or operations that could result from AT&T's pending acquisition of T-Mobile USA. Management would rather own its 4G strategy, rather than partner, at this point." USM closed yesterday at $48.78 a share