M&A
confidence high
sentiment positive
materiality 0.75
UScellular signs $1B spectrum sale to Verizon, plus smaller deals with two other operators
ARRAY DIGITAL INFRASTRUCTURE, INC.
- Sold 663M MHz POPs of Cellular (850 MHz) plus AWS and PCS licenses to Verizon for $1.0B cash, subject to adjustments.
- Also sold 12M MHz POPs of CBRS, C-Band, and 700 MHz B/C Block to two other mobile network operators; buyers undisclosed.
- All spectrum sales are contingent on closing of the T-Mobile purchase of UScellular wireless ops and spectrum, plus regulatory approvals.
- TDS, 82% shareholder, delivered written consent approving the Verizon transaction; no further shareholder vote needed.
- Retained spectrum: 3.4B MHz POPs low/mid-band (700 MHz, 3.45GHz, CBRS, C-Band) and 17.2B mmWave; further monetization ongoing.