News on Medial

T-Mobile is buying most of US Cellular for $4.4 billion

Business Insider · 7m

T-Mobile has struck a deal to buy "substantially all" of US Cellular's wireless operations for around $4.4 billion.The telecoms giant said on Tuesday it had agreed a deal that will see it take on the Chicago-based wireless provider's customers and stores.T-Mobile will acquire US Cellular's wireless operations and around 30% of its spectrum assets. The company will also extend its leases on 600 US Cellular towers and sign long-term leases on around 2,100 more.The Wall Street Journal previously reported that T-Mobile rival Verizon was also in talks to buy parts of US Cellular. The regional carrier has been up for sale since last year amid a declining customer base and underwhelming revenues.The deal, which is expected to close in mid-2025 and includes up to $2 billion of assumed debt, brings yet more consolidation to the US wireless industry.Earlier this month, T-Mobile finalized a $1.35 billion deal to acquire the parent company of Mint Mobile, a deal which saw actor and Mint Mobile part-owner Ryan Reynolds take home around $300 million.T-Mobile and US Cellular said the deal, which will face an antitrust review, will help deliver lower prices and provide faster wireless speeds to US Cellular's customers, who live in primarily rural areas.