05/28/2024

T-Mobile to Buy U.S. Cellular's Wireless Operations

The deal will cost $4.4 billion

T-Mobile will buy almost all of regional carrier United States Cellular's wireless operations including customers, stores and 30 percent of its spectrum assets in a deal valued at $4.4 billion, the telecom giant said on Tuesday.

U.S. Cellular's shares jumped more than 10 percent in trading before the bell and comes nearly ten months after the company said it was exploring strategic options.

U.S. Cellular will retain ownership of about 70 percent of its spectrum, its equity-method investments as well as 4,400 telecom towers. It said T-Mobile will become a long-term tenant on at least at least 2,600 towers.

Please select this link to read the complete article from Reuters.