U.S. Cellular Sells Spectrum Licenses to AT&T

(Reuters) – United States Cellular (NYSE:USM) announced on Thursday that it has agreed to sell a portion of spectrum licenses used for transmitting mobile phone signals and high-speed data services to AT&T (NYSE:T) for $1.02 billion.

The transaction is part of the regional wireless carrier's strategy to monetize its spectrum assets, which were not included in the previously announced sale to T-Mobile.

In May, U.S. Cellular entered into an agreement with T-Mobile to sell almost all of its wireless operations, including customers, stores, and 30% of its spectrum assets in a deal valued at $4.4 billion.

Last month, U.S. Cellular agreed to sell select spectrum licenses for $1 billion to Verizon (NYSE:VZ). The company also signed deals with two other mobile network operators, although details were not disclosed.

The latest agreement adds a fourth mobile network operator to the list, alongside T-Mobile, whose subscribers will benefit from the sale of U.S. Cellular's spectrum licenses, according to CEO Laurent Therivel.

With the proposed T-Mobile transaction, U.S. Cellular has finalized agreements to monetize approximately 70% of its total spectrum holdings, excluding high-frequency mmWave spectrum, as stated by the company.