TELEPHONE & DATA SYSTEMS INC /DE/ (TDS): M&A transaction — TDS closes $4.3B sale of Array wireless ops to T-Mobile; special dividend $23/share

TELEPHONE & DATA SYSTEMS INC /DE/

Array (fka US Cellular) sold wireless operations to T-Mobile for ~$4.3B: $2.6B cash + $1.7B debt exchange.
Array signed 15-year Master License Agreement with T-Mobile: minimum 2,015 towers, interim on ~1,800 towers, 600 existing sites extended.
Array declared $23.00/shr special dividend on Series A & Common stock, record Aug 11, payable Aug 19 (est. ~$2B total).
T-Mobile accepted $1.68B aggregate principal of Array notes; remaining ~$364M notes outstanding; cancellation expected Aug 5.
Array repaid and terminated securitization facility and bank facilities; no termination penalties incurred.

item 1.01 item 1.02 item 2.01 item 3.03 item 8.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

TELEPHONE & DATA SYSTEMS INC /DE/ completed a disposition involving T-Mobile US, Inc. for approximately $4.3 billion (closed 2025-08-01).

Action: disposition
Counterparty: T-Mobile US, Inc.
Consideration: approximately $4.3 billion
Closing: 2025-08-01

Exact text from the filing

Buyer. The purchase price received by Array at the Closing pursuant to the Purchase Agreement, after giving effect to adjustments pursuant thereto at Closing, was approximately $4.3 billion in the aggregate (the “Adjusted Purchase Price”), with approximately $2.6 billion of the Adjusted Purchase Price being paid in cash and approximately $1.7 billion of the Adjusted

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Source: SEC EDGAR

accession 0001104659-25-073367

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