UScellular Says Negotiations With T-Mobile Extended Over 7 Months
UScellular, in a heavily redacted filing at the FCC, told the agency that negotiations with T-Mobile before last year’s purchase agreement took place over seven months. The companies announced in May an agreement under which T-Mobile will buy “substantially all”…
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of the smaller carrier’s wireless operations, including some of its spectrum, in a deal valued at about $4.4 billion, including $2 billion in assumed debt (see 2405280047). On Oct. 4, 2023, Citigroup Global Markets, lead financial adviser on the sale, “started conversations with potential interested parties,” and UScellular’s parent, TDS, entered into a nondisclosure agreement with T-Mobile, said a filing posted Friday in docket 24-286. “Over the next several months, a competitive bidding process was held to solicit proposals from multiple parties, including T-Mobile,” it said. The talks resulted in an agreement reached May 24, UScellular said. The filing was a partial response to a December letter from the Wireless Bureau asking a battery of questions on the deal (see 2412270031).