Bellevue-based T-Mobile to Acquire Most of U.S. Cellular in $4.4 Billion Deal Announced on May 28, 2024

May 28, 2024, 01:45 PM

Bellevue-based T-Mobile has announced its plan to acquire most of U.S. Cellular's wireless operations and certain spectrum assets in a deal valued at approximately $4.4 billion. The acquisition, announced on May 28, 2024, includes the transfer of more than 4 million customers, hundreds of stores, and about 30% of U.S. Cellular's spectrum assets. The deal, which will be financed with existing cash and up to $2 billion in debt, aims to enhance T-Mobile's 5G network and improve coverage in rural areas. This move is expected to further consolidate the wireless industry and may face scrutiny from antitrust regulators.