FCC Clears T-Mobile's Acquisition of U.S. Cellular Assets.

The FCC has approved T-Mobile's acquisition of U.S. Cellular's wireless operations, customers, and certain spectrum licenses. U.S. Cellular will retain 70% of its spectrum holdings and all of its towers. The transaction is subject to satisfaction of all remaining conditions.

The U.S. Federal Communications Commission (FCC) has approved T-Mobile's acquisition of U.S. Cellular's wireless operations, customers, and certain spectrum licenses. This approval marks a significant milestone in T-Mobile's expansion plans, which aim to enhance its network capabilities and customer base.

The deal, valued at $4.4 billion, allows T-Mobile to acquire nearly all of U.S. Cellular's wireless operations, including customers, stores, and 30% of its spectrum assets. U.S. Cellular will retain 70% of its spectrum holdings and all of its towers. This transaction is subject to the satisfaction of all remaining conditions [1].

The FCC's approval comes amid a broader regulatory trend under the Trump administration, which has been more lenient on corporate consolidation. In this case, T-Mobile had to commit to ending its diversity, equity, and inclusion (DEI) programs to gain regulatory clearance. The company stated that it would make internal adjustments to phase out such language and programs [2].

The acquisition is expected to bring substantial network benefits to customers of both T-Mobile and U.S. Cellular. This includes additional capacity and coverage benefits, as well as improved fixed wireless access service with higher speeds and capacity. The FCC's approval is part of its broader initiative to unleash new builds, encourage greater investment, and expand network capacity [3].

Separately, the U.S. Department of Justice (DOJ) also cleared the deal, stating that the potential harm and offsetting benefits of the transaction do not warrant an enforcement action. The DOJ noted that US Cellular simply could not keep up with the escalating cost of capital investments in technology required to compete vigorously in the relevant market [4].

The acquisition is part of a broader trend of consolidation in the wireless industry. The Justice Department has cleared several multibillion-dollar deals under the Trump administration, illustrating a shift from the tougher stance on corporate consolidation under the Biden administration [5].

References:
[1] https://telecom.economictimes.indiatimes.com/amp/news/industry/t-mobile-secures-fcc-approval-for-major-acquisitions-amid-controversy-over-dei-programs/122398451
[2] https://www.bloomberg.com/news/articles/2025-07-11/fcc-greenlights-t-mobile-s-4-4-billion-us-cellular-acquisition
[3] https://www.tradingview.com/news/DJN_DN20250710009341:0-justice-department-won-t-seek-injunction-for-t-mobile-acquisition-of-u-s-cellular/
[4] https://www.reddit.com/r/tmobile/comments/1lxknex/fcc_greenlights_tmobiles_44_billion_us_cellular/
[5] https://finance.yahoo.com/news/doj-clears-way-t-mobiles-210954261.html