UScellular’s $1 Billion Sale of Select Spectrum Assets

On October 18, 2024, United States Cellular Corporation ("UScellular") announced that it has entered into an agreement with Verizon Communications Inc. to sell a portion of the company's retained spectrum licenses for total consideration of $1 billion. Additionally, UScellular has entered into agreements with two other mobile network operators for the sale of other selected spectrum licenses. The transactions are part of the objective UScellular announced on May 28, 2024, to monetize the spectrum that was not included in the proposed sale to T-Mobile. Cravath is representing the independent directors of UScellular in connection with the transaction.

The Cravath team is led by partner G.J. Ligelis Jr. and includes associates Edward O. Minturn, Jessica E. Sandor, Mariel V. Mok and Jack F. Chen on M&A matters.