The T-Mobile logo displayed on the screen of a laptop and smartphone is seen in this illustrative photo taken in Krakow, Poland on February 22, 2024.
Jakub Porzycki | Nuphoto | Getty Images
T-Mobile announced plans Tuesday to acquire most of US Cellular, including stores, some of the wireless carrier’s spectrum and its customers, in a deal worth $4 .4 billion dollars. The deal includes cash and up to $2 billion in debt.
Shares of US Cellular jumped more than 7% in premarket trading. T-Mobile shares were flat.
T-Mobile said it will use US Cellular wireless spectrum to improve coverage in rural areas while providing better connectivity to US Cellular customers in the United States. The company said it would allow US Cellular customers to keep their current plans or upgrade to a T-Mobile plan.
US Cellular will retain some of its spectrum and wireless towers and lease space on at least 2,100 additional towers from T-Mobile. The companies expect the deal to close in mid-2025.
T-Mobile merged with Sprint in 2020 in a deal worth $26 billion.
News Source : www.cnbc.com
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