T-Mobile Announces $4.4 Billion Acquisition of USCellular

T-Mobile’s $4.4 Billion Acquisition of USCellular Set to Drive Competition in Wireless Market

In a major move that is set to shake up the wireless market, T-Mobile has agreed to acquire the majority of USCellular in a blockbuster deal worth an estimated $4.4 billion. The agreement will see T-Mobile paying cash and taking on up to $2 billion of USCellular’s debt, pending final negotiations with debt holders.

The acquisition will allow USCellular customers to access T-Mobile’s advanced 5G technology, existing plans, and customer service operations. Additionally, areas previously underserved by USCellular will now have access to T-Mobile’s network, providing improved connectivity for existing customers.

T-Mobile CEO Mike Sievert expressed excitement about the merger, stating, “With this deal, T-Mobile can extend the superior Un-carrier value and experiences that we’re famous for to millions of USCellular customers.” He also emphasized that the increased competition resulting from the merger will benefit consumers across the board.

USCellular CEO Laurent Therivel echoed Sievert’s sentiments, emphasizing that the decision was made in the best interests of customers and shareholders. The acquisition was unanimously recommended by USCellular’s independent directors and approved by both USCellular’s Board of Directors and the Board of Directors of TDS, which owns the majority of USCellular’s shares.

Following the news of the acquisition, USCellular’s stock surged over 12% in a 24-hour period, reflecting investor confidence in the deal. T-Mobile, which reported strong Q1 2024 earnings, is poised to further solidify its position in the wireless market with this strategic acquisition.