T-Mobile to buy U.S. cellular assets for roughly US$2.4B
BNN Bloomberg
T-Mobile U.S. Inc., the second-largest mobile carrier in the U.S., has agreed to buy US Cellular Corp.’s wireless operations and some of its spectrum assets for roughly US$2.4 billion.
The deal includes US Cellular’s wireless customers, retail stores and 30 per cent of its spectrum assets, according to statements from the companies. T-Mobile said it’s paying a total of $4.4 billion, which includes a combination of cash and as much as $2 billion in assumed debt. The transaction is expected to close in mid-2025, pending regulatory approvals.
Shares of T-Mobile gained 1.4 per cent to $168.32 at 10:06 a.m. New York time. US Cellular shares were up 3.2 per cent at $44.34. Its parent, Telephone and Data Systems Inc., also gained.
T-Mobile, alongside virtually all of its telecom rivals, has been facing intensifying competition for new business in a saturated wireless market. Meanwhile, it’s going head-to-head with cable providers offering bundled phone products to their video subscribers.
