T-Mobile to Acquire U.S. Cellular in $4.4 Billion Deal, Adding 4 Million Customers and 30% Spectrum

May 28, 2024, 12:30 PM

T-Mobile US has announced a $4.4 billion deal to acquire most of U.S. Cellular's wireless operations and certain spectrum assets, including 30% of its spectrum. The acquisition will include U.S. Cellular's customers, stores, and some of its spectrum assets, which will be financed with existing cash and up to $2 billion in debt. This move is expected to enhance T-Mobile's 5G network and improve coverage, particularly in rural areas. The deal signifies further consolidation in the U.S. telecommunications market, raising questions about potential antitrust scrutiny. T-Mobile will gain more than 4 million new customers.