T-Mobile to Buy US Cellular Assets for Roughly $2.4 Billion (3)

T-Mobile US Inc., the second-largest mobile carrier in the US, has agreed to buy US Cellular Corp.’s wireless operations and some of its spectrum assets for about $2.4 billion.

The deal includes US Cellular’s wireless customers, retail stores and 30% of its spectrum assets, according to statements from the companies. T-Mobile is paying $4.4 billion, including a combination of cash and as much as $2 billion in assumed debt. The transaction is expected to close in mid-2025, pending regulatory approvals.

Shares of T-Mobile gained less than 1% Tuesday morning in New York. US Cellular was ...