DALLAS (dpa-AFX) - United States Cellular Corporation (USM) has entered into an agreement with AT&T (T) to sell a portion of the company's retained spectrum licenses for total consideration of $1.018 billion. The agreement includes the sale of 1,250 million MHz-Pops of 3.45 GHz and 331 million MHz-Pops of 700 MHz B/C block licenses. The sale is 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.
Following the transaction, as well as those previously announced, UScellular will have reached definitive agreements to monetize approximately 55%, measured on a MHz-Pops basis, of the spectrum holdings, excluding mmWave that were excluded from the proposed sale to T-Mobile, for a total consideration of approximately $2.02 billion.
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