T-Mobile announced a $4.4 billion acquisition of U.S. Cellular, including stores, spectrum, and customers.
The deal includes cash and up to $2 billion in debt. U.S. Cellular shares increased by more than 8% in premarket trading, while T-Mobile shares remained flat.
T-Mobile announced that it will use U.S. Cellular wireless spectrum to increase coverage in rural areas, as well as provide improved access to U.S. Cellular subscribers across the country.
The business stated that it will allow US Cellular customers to keep their current plans or move to a T-Mobile plan.
U.S. Cellular will retain some of its wireless airwaves and towers, while leasing space on at least 2,100 additional towers to T-Mobile. The firms expect the transaction to be completed in mid-2025.
Source (CNBC)
