311 S. Wacker Drive, Chicago 60606, 312-399-2500
– Founded: 1909
– Fiscal year-end: Dec. 31
– Chief executive
John P. Frazee Jr., 47, since 1987
1991 cash compensation: $1.07 million
Shares owned: 57,116 of 85.4 million common shares
– Employees: 9,291; 1,963 in Illinois
– Foreign sales: Less than 1 percent of $1.18 billion total in 1991
– May 1, 1992, value of $1,000 in company stock:
Purchased May 1, 1991: $1,268
Purchased May 1, 1987: $2,654
– Many of the calls Centel has been handling the last four months have been from prospective buyers of this local-exchange telephone and cellular communications company. Centel disclosed last January that it would explore various strategic options, including the sale of all or parts of the company. Bids were due April 16 and were still being sorted out at press time.
– In pursuing a sale, Centel management acknowledged that the company was unlikely to grow large enough to survive in the fast-consolidating telecommunications field. A sale of the firm or its parts could take a year or more to complete.
– Centel today bears little resemblance to the company that faced a proxy challenge from dissident shareholders in 1988. After beating back that challenge, management began divesting more than $2 billion in cable TV systems, electric utilities, small phone systems and other operations. Since 1988 the company has acquired about $1.1 billion in cellular systems.
