T-Mobile is buying U.S. Cellular's wireless operations and certain spectrum assets in a deal valued at $4.4 billion, and further consolidating the industry.
“Bringing together UScellular’s network resources with ours will enable us to fill gaps in connectivity that will create a better experience for all of our customers with more coverage and more capacity," T-Mobile CEO Mike Sievert said in a statement. The transaction includes a combination of cash and up to about $2 billion of assumed debt. Up to $100 million of the cash component is contingent on hitting certain financial and operational metrics between the deal's signing and closing.The deal has been unanimously approved by the boards of United States Cellular Corp. and Telephone and Data Systems Inc, which is a majority shareholder of U.S. Cellular. It is expected to close in mid-2025.
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