T-Mobile to Acquire Wireless Operations and Spectrum Assets of UScellular for $4.4B

T-Mobile US has agreed to acquire Wireless Operations and Select Spectrum Assets of United States Cellular Corporation for $4.4 billion. The transaction, subject to regulatory approvals, includes UScellular's wireless operations and approximately 30% of its spectrum assets. T-Mobile expects to finance the transaction with existing cash on hand. The deal is expected to close in mid-2025.

T-Mobile US, Inc. (NASDAQ: TMUS) has successfully completed the acquisition of UScellular’s wireless operations, marking a significant milestone in the company’s expansion efforts. The transaction, valued at approximately $4.4 billion, includes UScellular’s wireless operations and approximately 30% of its spectrum assets. The deal is expected to close in mid-2025, subject to regulatory approvals.

The acquisition will bring over four million UScellular customers, including businesses, onto T-Mobile’s network. These customers will benefit from T-Mobile’s renowned network, including blazing fast speeds and access to new perks and savings. Additionally, hundreds of thousands of households previously lacking high-speed connectivity will become eligible for T-Mobile’s in-home broadband service.

Mike Sievert, CEO of T-Mobile, expressed excitement about the acquisition, stating, “Today is such an exciting one because we get to officially welcome UScellular customers to Team Magenta and we’re doing it with some pretty amazing Un-carrier gifts: America’s best network, value-packed benefits, and a best-in-class experience.” Laurent Therivel, former CEO of UScellular, echoed the sentiment, highlighting the enduring mission of connecting people to what matters most.

The combined network will offer enhanced coverage and improved customer experiences. UScellular customers will move to T-Mobile’s network seamlessly, with reciprocal roaming and an integrated network experience in the coming months. Additionally, customers can unlock new benefits such as streaming services, international roaming, and device upgrades.

The transaction includes T-Mobile assuming UScellular’s wireless operations, stores, and spectrum assets for an aggregate purchase price of approximately $4.3 billion after adjustments. This includes $2.6 billion in cash and $1.7 billion in debt to be assumed. The deal is expected to have no impact on T-Mobile’s previous shareholder return authorization of up to $14 billion in 2025.

T-Mobile anticipates that the acquisition will close in August 2025, with the UScellular brand transitioning in phases to T-Mobile. Array Digital Infrastructure Inc. (formerly UScellular) will retain ownership of a significant portion of the company’s spectrum and towers, continuing operations as a separate infrastructure-focused entity.

The acquisition aligns with T-Mobile’s strategy to expand its network coverage and improve customer experiences. By integrating UScellular’s operations, T-Mobile aims to deliver more value and better coverage to customers across the United States.

References:
[1] https://www.businesswire.com/news/home/20250731989036/en/Roll-Out-the-Magenta-Welcome-Mat-T-Mobile-Completes-UScellular-Deal