American telecommunication giants, T-Mobile and Verizon, are said to be discussing a split purchase of US Cellular Corporation, the local mobile network operator, sources told The Wall Street Journal on Thursday.
T-Mobile's agreement to acquire a portion of the company for over $2 billion may be anticipated to be finalized later this month, with the deal giving the company control of certain operations and wireless spectrum licenses. Meanwhile, a possible deal with Verizon could take longer, people familiar with the matter noted. The US Cellular Corporation shared last year that it was exploring "strategic alternatives" for its wireless business.
Shares of T-Mobile were up 0.57% amid the news, while Verizon's stock gained 0.54%. US Cellular's shares surged 8.57% to sell at $38.95 apiece after the report.
