Deals
AT&T Buys US Cellular Sells Spectrum Assets for $1 Billion
A US Cellular store in Wilmington, North Carolina, US, on Tuesday, May 28, 2024.
Photographer: Allison Joyce/BloombergThis article is for subscribers only.
US Cellular Corp. agreed to sell some spectrum assets to AT&T Corp. for $1.02 billion as the tower operator continues the sale of its portfolio.
Chicago-based US Cellular controls one of the largest tower businesses in the US. The transaction is part of the company’s plan to “opportunistically monetize” the spectrum that wasn’t included in a previously announced sale to T-Mobile US Inc. in May for $4.4 billion, and follows a similar deal with Verizon Communications Corp. and two other mobile network operators in October.