M&A
confidence high
sentiment positive
materiality 0.85
UScellular sells select spectrum assets to Verizon for $1.0B; additional sales to two other operators
TELEPHONE & DATA SYSTEMS INC /DE/
- Verizon to buy 663M MHz POPs of Cellular, 11M AWS, 19M PCS licenses for $1.0B cash, subject to adjustments.
- Agreements with two other mobile operators to sell additional 12M MHz POPs across CBRS, C-Band, 700 MHz bands.
- All transactions contingent on closing of T-Mobile purchase of UScellular wireless operations and select spectrum.
- TDS, as 82% shareholder of USCC, delivered written consent approving the Verizon deal; no shareholder vote needed.
- Following these sales, UScellular retains 3.4B MHz POPs low/mid-band and 17.2B MHz POPs mmWave spectrum for further monetization.