Bellevue, Wash.-based wireless giant T-Mobile announced Tuesday it reached an agreement with U.S. Cellular to acquire “substantially all” of its wireless operations in a $4.4 billion deal.
- The deal, which also includes select spectrum assets, will help T-Mobile expand its coverage in rural areas.
- U.S. Cellular, the nation’s fifth largest carrier, last year said it was exploring strategic alternatives for its wireless operations.
- The deal is T-Mobile’s latest substantial acquisition, following Mint Mobile and Sprint.
- Shares of U.S. Cellular were up more than 6%. T-Mobile stock was up 1%.
