---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-065326"
form_type: "8-K"
ticker: "TDS"
cik: "0001051512"
company_name: "TELEPHONE & DATA SYSTEMS INC /DE/"
filed_at: "2024-05-28T23:59:59+00:00"
generated_at: "2026-06-01T07:52:56.713131+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# TDS board approves sale of UScellular wireless ops to T-Mobile for $4.4B; cuts common dividend 80%

## Summary
- Sale of UScellular wireless ops and ~30% of spectrum to T-Mobile for $4.4B in cash and assumption of up to ~$2B debt; deal expected to close mid-2025.
- TDS (83% owner of UScellular) has consented; transaction subject to regulatory approvals and customary conditions.
- TDS declares Q2 2024 common dividend of $0.04/share, about 20% of prior level (80% cut); preferred dividends unchanged at $0.4140625/depositary share for Series UU and $0.375 for Series VV.
- UScellular retains ~70% of spectrum assets; tower business to have T-Mobile as tenant on 2,015 incremental towers for at least 15 years.
- TDS plans to use proceeds for fiber build-out and leverage reduction; may also return capital to shareholders.

## SEC filing metadata
- accession: 0001104659-24-065326
- form_type: 8-K
- ticker: TDS
- cik: 0001051512
- company_name: TELEPHONE & DATA SYSTEMS INC /DE/
- filed_at: 2024-05-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1051512/000110465924065326/0001104659-24-065326-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1051512/000110465924065326/tm2415307d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-065326
- JSON: https://secwatch.observer/filing/0001104659-24-065326.json
- Plain text: https://secwatch.observer/filing/0001104659-24-065326.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.