On May 28, 2024, T-Mobile to Acquire U.S. Cellular's Wireless Operations and 30% Spectrum Assets in $4.4 Billion Deal

May 28, 2024, 11:41 AM

On May 28, 2024, T-Mobile US agreed to acquire most of U.S. Cellular's wireless operations and some of its spectrum assets in a deal valued at approximately $4.4 billion. The acquisition includes customers, stores, and 30% of U.S. Cellular's spectrum assets. This move is expected to bring further consolidation to the U.S. telecommunications market. The deal will be financed with existing cash and up to $2 billion in additional funds. T-Mobile aims to deliver exceptional value, a superior 5G experience, and unparalleled benefits to millions of customers through this acquisition. However, the deal's approval by antitrust regulators remains uncertain. The stock symbols involved are $TMUS and $USM.