![GettyImages-1157812357-e1716908680978.jpg](https://minuteman-militia.com/wp-content/uploads/sites/8/2024/05/GettyImages-1157812357-e1716908680978-678x381.jpg)
![The T-Mobile logo is seen outside a shop in Washington, DC, on July 26, 2019. - US antitrust authorities approved the USD 26 billion merger of T-Mobile and Sprint in a deal that brings together the third- and fourth-largest wireless operators as the industry moves toward deployment of superfast 5G networks. (Photo by Alastair Pike / AFP) (Photo by ALASTAIR PIKE/AFP via Getty Images)](https://c3.oann.com/wp-content/uploads/2024/05/GettyImages-1157812357-800x534.jpg)
OAN’s James Meyers
8:11 AM – Tuesday, May 28, 2024
T-Mobile announced on Tuesday that it’s buying most of U.S. Cellular’s operations in a deal worth $4.4 billion, which includes some of the wireless operator’s spectrum and its customers.
Advertisement
The deal will include a combination of cash and up to $2 billion of debt.
Shares of U.S. Cellular increased over 7% in premarket trading, with T-Mobile shares staying flat.
T-Mobile will acquire close to 30% of U.S. Cellular’s wireless spectrum as part of the deal, expanding coverage for customers in rural areas, while U.S. Cellular will keep the remaining 70% to “opportunistically monetize these retained assets,” according to the statement.
U.S. Cellular customers can keep their current wireless plans or switch to a plan offered by T-Mobile, the companies said.
Additionally, U.S. Cellular will lease almost 2,100 cellphone towers to T-Mobile.
According to T-Mobile, integrating U.S. Cellular’s operations into T-Mobile’s business will cost between $2.2 billion and $2.6 billion.
Meanwhile, the deal is expected to close in mid-2025 pending regulatory approval, both companies said, and has already been approved by U.S. Cellular’s board of directors.
Furthermore, if the deal does not go through, T-Mobile has stated it will pay U.S. Cellular $60 million.
T-Mobile merged with Sprint in 2020 in a deal worth $26 billion.
Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here. https://www.oann.com/alerts
Be the first to comment