Verizon Agrees to Sell Wireless Billing Unit

Verizon Communications Inc., the largest U.S. local-telephone company, said that it agreed to sell a wireless-phone billing unit to investment company GTCR Golder Rauner for $800 million.

Chicago-based GTCR is paying cash for TSI Telecommunication Inc., Verizon said. Edward Evans, president of wireless-service company Dobson Communications Corp., will become TSI’s chief executive in January.

TSI, based in Tampa, Fla., has about 800 workers and more than $350 million in annual sales. Verizon is selling the unit, which helps wireless companies bill each other for network sharing, to focus on its main phone-service businesses.