T-Mobile to acquire almost all of U.S. Cellular in a $4.4 billion deal
Summary
(AP) - T-Mobile is buying U.S. Cellular’s wireless operations and certain spectrum assets in a deal valued at $4.4 billion, and further consolidating the industry. T-Mobile CEO Mike Sievert said the deal will “create a better experience for all of our customers with more coverage and more capacity.” It may also signal the start of more consolidation in an industry with fewer players than ever. “The writing is on the wall for the carriers and consolidation is now on the horizon and could speed up into 2025,” said Wedbush Securities analyst Dan Ives. “In the face of rising competition and increasing capital intensity required to keep pace with the latest technologies, and following our careful and deliberate strategic review, we are confident that continuing to deliver on our mission requires a level of scale and investment that is best achieved by integrating our wireless operations with those of T-Mobile,” U.S. Cellular Chair LeRoy Carlson Jr. said in a statement. Up to $100 million of the cash component is contingent on hitting certain financial and operational metrics between the deal’s signing and closing.