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Sprint to Acquire Spectrum, Customers from U.S. Cellular for $480M

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Sprint (NYSE: S) today announced that it has entered into a definitive
agreement with U.S. Cellular (NYSE: USM) to acquire PCS spectrum and
customers in parts of Illinois, Indiana, Michigan, Missouri and Ohio
including the Chicago and St. Louis markets for $480 million in cash and
the assumption of certain liabilities. The additional spectrum will be
used to supplement Sprint's coverage in these areas as it continues to
deploy its Network Vision upgrade and roll out 4G LTE nationally.

“This transaction will enable us to strengthen our business and become a
more robust competitor,” said Dan Hesse, Sprint's CEO. “Acquiring this
spectrum will significantly increase Sprint's network capacity and
improve the customer experience in several important Midwest markets

See full press release

Posted-In: News Guidance Asset Sales Management M&A

 

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