US Cellular to sell some spectrum licenses to AT&T for $1 billion

Date:

(Reuters) – United States Cellular said on Thursday it has agreed to sell a portion of spectrum licenses used to transmit mobile phone signals and high-speed data services to AT&T in a $1.02 billion deal.

The transaction is part of the regional wireless carrier’s strategy to monetize its spectrum assets that were not part of the previously announced sale to T-Mobile.

In May, U.S. Cellular entered into an agreement with T-Mobile to sell almost all of its wireless operations including customers, stores and 30% of its spectrum assets in a deal valued at $4.4 billion.

Last month, U.S. Cellular agreed to sell select spectrum licenses for $1 billion to Verizon. It also signed deals with two other mobile network operators, but did not disclose the details.

The latest agreement “adds a fourth mobile network operator, in addition to T-Mobile, to the list of those whose subscribers will benefit from the sale of our spectrum licenses,” U.S. Cellular CEO Laurent Therivel said on Thursday.

Including the proposed T-Mobile transaction, U.S. Cellular has reached agreements to monetize about 70% of its total spectrum holdings, excluding high-frequency mmWave spectrum, the company said in a statement.

(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Shailesh Kuber)

Share post:

Popular

More like this
Related

Keys to a fantasy football victory in Week 12

Fantasy football analyst Sal Vetri delivers his Week 12...

Conte confirms ‘no problem’ for McTominay after Scotland substitution

Napoli doctors assessed him and ruled out an injury,...

Real Madrid General Director tells La Liga to cut funding for women’s football

Real Madrid and La Liga are never short of...

Centre Releases World Bank Report On Jobs In 6 States. Here’s What It Says – News18

Last Updated:November 22, 2024, 19:58 ISTThe study is in...