T-Mobile agreed to purchase U.S. Cellular’s wireless operations, customers, stores, and select spectrum assets for $4.4 billion Tuesday, with the deal expected to close next year.
The acquisition will provide customers from both companies with increased coverage and connection capabilities, especially people in rural parts of the country.
U.S. Cellular will retain ownership of an estimated 4,400 cellular towers, extend T-Mobile’s current leases on 600 towers, and provide T-Mobile an option to lease a minimum of 2,100 additional towers.
U.S. Cellular’s stock jumped more than 2% Tuesday morning on news of the deal.