United States Cellular Enters Agreement With Verizon To Sell Portion Of Its Retained Spectrum Licenses For Total Consideration Of $1B

Additionally, UScellular has entered into agreements with two other mobile network operators for the sale of other selected spectrum licenses. The transactions are part of the objective UScellular announced on May 28, 2024, to opportunistically monetize the spectrum that was not included in the proposed sale to T-Mobile.

UScellular reached an agreement with Verizon to sell 663 million MHz POPs of its Cellular (850 MHz) spectrum licenses as well as 11 million MHz POPs of its AWS and 19 million MHz POPs of its PCS licenses for a total of $1.0 billion.

The purchase price is payable in cash and subject to certain potential adjustments specified in the purchase agreement. The transaction with Verizon is subject to the receipt of regulatory approvals and satisfaction of customary closing conditions.