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T-Mobile to acquire most of U.S. Cellular in $4.4B deal

U.S. Cellular shares soared Tuesday after T-Mobile announced it will acquire most of the company in a deal worth $4.4 billion. It plans to use the wireless company to improve coverage in rural areas.

Shares of U.S. Cellular popped nearly 6% Tuesday after T-Mobileannounced that it plans to acquire most of the company, including the wireless operator's stores, some of its spectrum assets and its customers in a deal worth $4.4 billion. Up to $100 million of the deal's cash portion depends on certain financial and operating metrics being met between its signing and closing, according to a separate press release from U.S. Cellular. It plans to use that to improve coverage in rural areas while offering better connectivity to U.S. Cellular customers around the United States, the two companies announced.

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