T-Mobile to Acquire Majority of U.S. Cellular’s Wireless Operations in $4.4 Billion Deal

T-Mobile to Acquire Majority of U.S. Cellular's Wireless Operations in $4.4 Billion Deal

T-Mobile announced it will acquire nearly all of United States Cellular‘s wireless operations, including customers, stores, and 30% of its spectrum assets, in a transaction valued at $4.4 billion. U.S. Cellular’s stock surged over 10% in pre-market trading following this announcement, which comes almost ten months after the company indicated it was considering strategic alternatives.

U.S. Cellular will keep about 70% of its spectrum, equity-method investments, and 4,400 telecom towers. T-Mobile will become a long-term tenant on at least 2,600 of these towers. To fund the deal, T-Mobile will use a combination of cash and up to $2 billion in debt, which will be assumed through an exchange offer to some of U.S. Cellular’s debtholders.

T-Mobile to Acquire Majority of U.S. Cellular's Wireless Operations in $4.4 Billion Deal

T-Mobile does not foresee any impact on its financial forecast or shareholder return program for 2024 and anticipates $1 billion in operating expense and capital spending cost synergies. The deal is expected to close in mid-2025, pending regulatory approvals, and U.S. Cellular stated that shareholders are not required to take any action regarding this deal. Telephone and Data Systems, which owns 83% of U.S. Cellular, has given written consent for the deal.

Earlier this month, WSJ reported that Verizon was also in talks to acquire parts of U.S. Cellular.

Also Read, Venezuelan Authorities Intensify Anti-Bitcoin Mining Efforts, Seize Over 6,000 Miners

Toyota to End Major Sponsorship Deal with IOC After Paris Olympics

Pooja Chauhan

Pooja Chauhan: Your Source for Entertainment and Box Office News Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

Leave a Reply