- United States Cellular Corp (NYSE: USM) acquired 254 licenses covering 94% of its subscribers in the latest Federal Communications Commission (FCC) C-Band Auction 107, for an estimated $1.46 billion.
- The cost included gross bids, estimated relocation costs, and accelerated relocation incentive payments.
- U.S. cellular will have a mid-band spectrum in nearly all of its operating footprint along with previous mid-band acquisitions of CBRS spectrum in Auction 105.
- The company is focused on deploying 5G on 600 MHz spectrum and expanding it with a mid and high band spectrum. The auction enabled it to acquire 60 MHz in most key markets, including Wisconsin and Iowa.
- Price action: USM stock closed higher by 5.44% at $37.04 on Wednesday.
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