T-MOBILE TO BUY ALMOST ALL OF U.S CELLULAR IN DEAL WORTH $4.4 BILLION WITH DEBT

T-Mobile is buying U.S. Cellular's wireless operations and certain spectrum assets in a deal valued at $4.4 billion, and further consolidating the industry.

T-Mobile would get more than 4 million new customers and control of U.S. Cellular's wireless operations and about 30% of spectrum assets across several spectrum bands. T-Mobile will also enter into a new master license agreement on more than 2,000 towers and extend the lease term for the approximately 600 towers where T-Mobile is already a tenant.

T-Mobile CEO Mike Sievert said the deal will "create a better experience for all of our customers with more coverage and more capacity!"

It may also signal the start of more consolidation in an industry with fewer players than ever. "The writing is on the wall for the carriers and consolidation is now on the horizon and could speed up into 2025," said Wedbush Securities analyst Dan Ives. "This is the first shot across the bow in the wireless world and we expect more deals over the next year.