Tuesday, July 16, 2024
HomeTechnologyGadgetsT-Mobile will acquire a majority stake in US Cellular to further consolidate...

T-Mobile will acquire a majority stake in US Cellular to further consolidate the operator market

T move The deal is worth about $4.4 billion. This means T-Mobile will own all of US Cellular’s stores, some of its spectrum assets, and some of its customers. The deal includes cash and up to $2 billion in assumed debt, according to one company. . The companies expect to complete the acquisition by mid-2025, subject to regulatory approval.

All told, T-Mobile will get about 30% of US Cellular’s wireless spectrum, which it hopes to use to improve coverage in rural areas and provide better connectivity to existing US Cellular customers across the country. Current customers will be able to keep their plans or switch to a similar T-Mobile contract.

US Cellular will retain 70% of the wireless spectrum and towers. In addition, it will lease space in approximately 2,100 additional towers from T-Mobile. “The decision we are announcing today is in the best interest of our customers and shareholders,” said US Cellular CEO Laurent Therivel. “T-Mobile is the right partner for our wireless business.”

This is just the latest consolidation move from T-Mobile. The company recently acquired , acquired parent company Ka’ena Corporation for approximately $1.35 billion. T move Back to 2020.

wall street journal T-Mobile once teamed up with frenemy Verizon to “divide” US Cellular’s wireless spectrum, but it looks like the deal has either failed or will be significantly delayed.

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