T-Mobile to buy nearly all of US Cellular in $4.4bn deal

28th May 2024 12:03

(Sharecast News) - T-Mobile said on Tuesday that it has agreed to buy nearly all of US Cellular's wireless operations in a $4.4bn deal.

The agreement includes US Cellular's wireless customers and stores, as well as certain specified spectrum assets.

T-Mobile said its 5G network will expand to provide millions of US Cellular customers, particularly those in underserved rural areas, a "superior" connectivity experience, moving from a roaming experience outside of the US Cellular coverage area to full nationwide access on the country's largest and fastest 5G network.

Mike Sievert, chief executive of T-Mobile, said: "With this deal T-Mobile can extend the superior Un-carrier value and experiences that we're famous for to millions of US Cellular customers and deliver them lower-priced, value-packed plans and better connectivity on our best-in-class nationwide 5G network.

"As customers from both companies will get more coverage and more capacity from our combined footprint, our competitors will be forced to keep up - and even more consumers will benefit. The Un-carrier is all about shaking up wireless for the good of consumers and this deal is another way for us to continue doing even more of that."

Once the deal completes, US Cellular will retain ownership of its other spectrum as well as its towers, with T-Mobile entering into a long-term arrangement to lease space on at least 2,100 additional towers being retained.

The transaction is expected to close in mid-2025.