The T-Mobile logo is displayed on a laptop screen and smartphone as shown in this illustration photo taken on February 22, 2024 in Krakow, Poland.
Jakub Bolzycki | Noor Photos | Getty Images
shares US mobile phone Jumped nearly 6% on Tuesday T move declare The company plans to acquire a majority stake in the company, including the wireless operator’s stores, some spectrum assets and its customers, in a deal valued at $4.4 billion.
The deal includes cash and up to $2 billion in debt, according to a T-Mobile press release. According to a separate report, up to $100 million of the cash portion of the deal is subject to meeting certain financial and operating metrics between its signing and closing. Press release From US Cell Phones.
T-Mobile shares rose more than 1% in Tuesday trading.
T move Approximately 30% will be acquired According to news released by American Mobile Communications, as part of the transaction, American Mobile Communications will acquire the wireless spectrum of American Mobile Communications. The companies announced plans to use the technology to improve coverage in rural areas while providing better connectivity to US Cellular customers across the United States. The company said it will allow US Cellular customers to keep their current plans or switch to T-Mobile plans.
Both companies said US Cellular will retain 70% of the wireless spectrum and towers and will lease space for at least 2,100 additional towers from T-Mobile. The deal will also allow T-Mobile to sign new long-term leases on at least 2,015 towers owned by US Cellular and extend existing leases on about 600 other towers, US Cellular said in a news release.
The company said this will provide US Cellular customers with a “strong anchor tenant” for at least 15 years after the transaction closes.
Previously, T-Mobile acquired Ka’ena, the parent company of Mint Mobile, for $1.35 billion. Federal Communications Commission approve the transaction in April. T-Mobile merged with Sprint in 2020 in a deal valued at $26 billion.
wall street journal It was reported in early May that T-Mobile and Verizon It is in talks to “divide up” American Mobile’s wireless spectrum, but said a separate deal with Verizon could take longer or fail.
The companies expect the transaction to close in mid-2025.
Correction: This article has been updated to correct the timeline of an earlier report by The Wall Street Journal. A previous version incorrectly stated the month.
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