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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

T-Mobile buys US Cellular’s wireless operations for $4.4 billion.

T-Mobile Photo Credit: Reuters
T-Mobile Photo Credit: Reuters T-Mobile Photo Credit: Reuters
T-Mobile Photo Credit: Reuters
T-Mobile Photo Credit: Reuters T-Mobile Photo Credit: Reuters

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T-Mobile announced on Tuesday that it will acquire nearly all of the wireless operations, including customers, stores, and 30% of the spectrum holdings, of regional carrier United States Cellular for $4.4 billion.
U.S. Cellular’s stock price increased by over 10% in pre-market trading, continuing a trend that began over a decade ago when the firm announced it was considering strategic alternatives.
U.S. Cellular will keep 4,400 telecommunications towers, approximately 70% of its spectrum, and its equity-method assets. According to the report, T-Mobile has agreed to become a long-term tenant on 2,600 towers.

T-Mobile plans to use a mix of cash and an exchange offer to absorb up to $2 billion in debt from some of U.S. Cellular’s debtholders in order to finance the purchase. The goal is to increase coverage for T-Mobile users.
There will be no effect on T-Mobile’s 2024 financial projection or shareholder return program, the company said. It anticipates a return of approximately $1 billion from efficiencies in operational expenses and capital expenditures.

Following regulatory clearances, the transaction is anticipated to be completed in mid-2025. According to U.S. Cellular, shareholders are not anticipated to take any action regarding this sale.
The regional carrier’s 83% shareholder, Telephone and Data Systems (TDS.N) (opens a new tab), has given written authorization authorizing the acquisition, it said.
Earlier this month, WSJ reported that Verizon was reportedly in discussions to acquire a portion of the regional carrier.

 


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