The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

Business

T-Mobile to acquire most of U.S. Cellular in $4.4 billion deal

by admin May 30, 2024
May 30, 2024
T-Mobile to acquire most of U.S. Cellular in $4.4 billion deal

Shares of U.S. Cellular popped nearly 6% Tuesday after T-Mobile announced that it plans to acquire most of the company, including the wireless operator’s stores, some of its spectrum assets and its customers in a deal worth $4.4 billion.

The deal includes cash and up to $2 billion of debt, according to a press release from T-Mobile. Up to $100 million of the deal’s cash portion depends on certain financial and operating metrics being met between its signing and closing, according to a separate press release from U.S. Cellular.

Shares of T-Mobile were up more than 1% during Tuesday’s session.

T-Mobile will acquire about 30% of U.S. Cellular’s wireless spectrum as part of the deal, according to the U.S. Cellular release. It plans to use that to improve coverage in rural areas while offering better connectivity to U.S. Cellular customers around the United States, the two companies announced. The company said it will allow U.S. Cellular customers to keep their current plans or switch to a T-Mobile plan.

Both companies said that U.S. Cellular will retain 70% of its wireless spectrum and towers and will lease space on at least 2,100 additional towers to T-Mobile. The deal will also allow T-Mobile to sign new long-term leases on at least 2,015 U.S. Cellular-owned towers and extend existing leases on about 600 others, U.S. Cellular said in its release.

This will give U.S. Cellular customers a “strong anchor tenant” for at least 15 years after the deal’s close, the company said.

The news follows T-Mobile’s $1.35 billion acquisition of Ka’ena, the parent company of Mint Mobile. The U.S. Federal Communications Commission approved that deal in April. T-Mobile merged with Sprint in 2020 in a deal worth $26 billion.

The Wall Street Journal reported earlier in May that T-Mobile and Verizon were in talks to “carve up” U.S. Cellular’s wireless spectrum but said a deal with Verizon on a separate transaction could take longer or fall through.

The companies expect the deal to close in mid-2025.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
FTX exec who turned on Sam Bankman-Fried sentenced to 7.5 years in prison
next post
Weekly mortgage demand drops to three-month low as rates begin climbing again

Related Posts

India’s 2nd-wealthiest person charged by U.S. in $250...

November 22, 2024

European Union slashes planned tariffs on China-made Tesla...

August 22, 2024

Pfizer CEO says tariff uncertainty is deterring further...

May 2, 2025

Trump-branded wireless service launches — with a gold...

June 18, 2025

Boeing, Alaska Airlines point fingers at each other...

March 14, 2024

Johnson & Johnson to pay $6.5 billion to...

May 7, 2024

JPMorgan Chase CEO Jamie Dimon says DOGE ‘needs...

February 26, 2025

How the Olympics helped transform Salt Lake City...

December 12, 2024

Trump demands resignation of Intel CEO over alleged...

August 8, 2025

Elon Musk says backlash against his DOGE government...

April 2, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Amazon cracks down on Prime free shipping sharing

      September 4, 2025
    • Crash victims’ families prepare to make what could be their final plea for Boeing’s prosecution

      September 4, 2025
    • Disney to pay $10 million to settle FTC complaint over collection of children’s data on YouTube

      September 4, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      September 4, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      September 4, 2025
    • Trump’s political advisers huddle with House GOP over rebranding of the big beautiful bill

      September 4, 2025

    Categories

    • Business (1,376)
    • Politics (4,393)
    • Stocks (1,627)
    • Uncategorized (45)
    • World News (1,369)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved