---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-065662"
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: "2026-06-01T07:53:00.458574+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# TDS and U.S. Cellular agree to sell wireless ops and spectrum to T-Mobile for $4.4B

## Summary
- Purchase price of $4.4B in cash and debt assumption; $400M escrowed for certain spectrum, $100M contingent on milestones.
- Buyer to conduct exchange offer for up to $2.044B of Seller debt, reducing purchase price.
- Closing subject to HSR, FCC, CFIUS approvals and business separation; termination fee of $60M payable by Buyer.
- Master License Agreement: 15-year license on ~2,000 towers and extension on ~600 towers post-closing.
- Put/Call Agreement for 600 MHz spectrum licenses valued at ~$106M; one-year term from closing.

## SEC filing metadata
- accession: 0001104659-24-065662
- 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: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1051512/000110465924065662/0001104659-24-065662-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1051512/000110465924065662/tm2415307d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-065662
- JSON: https://secwatch.observer/filing/0001104659-24-065662.json
- Plain text: https://secwatch.observer/filing/0001104659-24-065662.txt

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