Questar Corp. said it has completed the sale of its telecommunications subsidiary to Nextel Com-munications Inc. in return for 3.9 million shares of Nextel stock.
The sale of Questar Telecom Inc.'s specialized mobile radio (SMR) assets in six western states created a pre-tax gain of approximately $62 million based on a $255/8 Nextel stock price. SMR allows a radio operator access to outside telephone service, two-way radio communication, paging and data communications.R.D. Cash, Questar chairman, president and chief executive officer, said: "We are pleased with Nextel's progress toward providing wireless communication services throughout North America.
"Nextel's success in bringing together key industry players into a single network sets the stage for future growth and increased value."