TECH - T-Mobile's USCellular Acquisition Is Key to 5G Leadership and Market Expansion Analyst Says | Benzinga
Benchmark analyst Matthew Harrigan reiterated a Buy rating on T-Mobile US, Inc (NASDAQ:TMUS) with a price target of $200.
On Tuesday, T-Mobile formally announced its anticipated United States Cellular Corp (NYSE:USM) transaction. It agreed to pay ~$4.4 billion for 4.5 million retail mobile customers across 21 states and 30% of the much smaller carrier’s wireless spectrum.
USCellular would retain the entirety of its 2,100 towers (with T-Mobile leasing space for fifteen years) and interests in its Verizon Communications Inc (NYSE:VZ) joint ventures. T-Mobile would also extend its current leases on 600 towers.
Harrigan said the proposed ...