Bellevue-based T-Mobile has agreed to acquire most of U.S. Cellular's wireless operations and 30% of its spectrum assets for approximately $4.4 billion. The deal, which includes $2 billion in debt, will further consolidate the U.S. telecommunications market. T-Mobile plans to use U.S. Cellular's spectrum to enhance coverage in rural areas, aiming to deliver a superior 5G experience and unparalleled benefits to millions of customers. The acquisition will be financed with existing cash and up to $2 billion in debt. The deal's completion is subject to regulatory approval, and it remains to be seen if it will pass muster with antitrust regulators. Mike Sievert, CEO of T-Mobile, announced the deal on May 28, 2024.
