FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Hanley Joseph R   2. Issuer Name and Ticker or Trading Symbol TELEPHONE & DATA SYSTEMS INC /DE/ [TDS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) VP-Technology Planning Service (Last) (First) (Middle) 30 N. LASALLE ST., STE. 4000 3. Date of Earliest Transaction (Month/Day/Year) 06/22/2007 (Street) CHICAGO, IL 60602 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Shares 06/22/2007   M   785 A (3) 1,069.8 D   Special Common Shares 06/22/2007   M   785 A (3) 1,070 D   Common Shares 06/22/2007   M   677 A (3) 1,746.8 D   Special Common Shares 06/22/2007   M   677 A (3) 1,747 D   Common Shares 06/22/2007   M   2,579 A (3) 4,325.8 D   Special Common Shares 06/22/2007   M   2,579 A (3) 4,326 D   Common Shares 06/22/2007   M   1,255 A (3) 5,580.8 D   Special Common Shares 06/22/2007   M   1,255 A (3) 5,581 D   Common Shares 06/22/2007   M   3,433 A (3) 9,013.8 D   Special Common Shares 06/22/2007   M   3,433 A (3) 9,014 D   Common Shares 06/22/2007   S   1,462 D $ 63.2 7,551.8 D   Common Shares 06/22/2007   S   2,579 D $ 63.22 4,972.8 D   Common shares 06/22/2007   S   1,255 D $ 63.2328 3,717.8 D   Common Shares 06/22/2007   S   3,233 D $ 63.25 484.8 D   Common Shares 06/22/2007   S   200 D $ 63.26 284.8 D   Special Common Shares 06/22/2007   S   3,200 D $ 58 5,814 D   Special Common Shares 06/22/2007   S   3,096 D $ 58.43 2,718 D   Special Common Shares 06/22/2007   S   829 D $ 58.44 1,889 D   Special Common Shares 06/22/2007   S   1,604 D $ 58.53 285 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option (Right to Buy)

$ 78.1

06/22/2007

M

3,433

12/15/2005

04/21/2015

Tandem Common and Special Common Shares

3,433

(1)

0

D

Option (Right to Buy)

$ 59.9

06/22/2007

M

2,579

(2)

07/01/2012

Tandem Common and Special Common Shares

2,579

(1)

0

D

Option (right to buy)

$ 59

06/22/2007

M

677

04/30/2003

07/05/2012

Tandem Common and Special Common shares

677

(1)

0

D

Option (Right to buy)

$ 43.09

06/22/2007

M

785

04/30/2004

04/30/2013

Tandem Common and Special Common Shares

785

(1)

0

D

Option (right to Buy)

$ 65.96

06/22/2007

M

1,255

04/30/2005

04/30/2014

Tandem Common and Special common shares

1,255

(1)

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Hanley Joseph R 30 N. LASALLE ST., STE. 4000 CHICAGO, IL 60602			VP-Technology Planning Service

Signatures

Julie D. Mathews, by power of atty		06/25/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Granted under the 2004 Long-Term Incentive Plan.
(2)	860 shares became exercisable on 12/14/02 and on 12/14/03. 859 became exercisable on 12/14/04.
(3)	As a result of the special common dividend on 5/13/05, all options to purchase common shares were adjusted into tandem options. The tandem option provide that upon exercise, the optionee purchases the number of common shares originally subject to the option plus an equal number of special common shares.

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