U.S. Cellular to be Acquired by T-Mobile in $4.4 Billion Deal
- On Tuesday, T-Mobile revealed its plans to acquire a significant portion of U.S. Cellular in a $4.4 billion deal.
- T-Mobile announced plans to utilize U.S. Cellular's wireless spectrum to enhance coverage in rural regions.
- T-Mobile will lease space on at least 2,100 additional towers from U.S. Cellular, while retaining some of its own wireless spectrum and towers.
It was announced on Tuesday that the company plans to acquire most of its stores, some of its wireless operator's spectrum, and its customers in a $4.4 billion deal that includes cash and up to $2 billion of debt.
U.S. Cellular's shares surged over 7% in premarket trading, while T-Mobile's shares remained unchanged.
T-Mobile announced that it will utilize U.S. Cellular's wireless spectrum to enhance coverage in rural regions and provide improved connectivity to U.S. Cellular customers nationwide. Customers will have the option to maintain their current plans or switch to a T-Mobile plan.
T-Mobile will lease space on at least 2,100 additional towers from U.S. Cellular, with the deal expected to close in mid-2025.
T-Mobile merged with Sprint in 2020 in a deal worth $26 billion.
Business News
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