UScellular Closes Divestiture Of Wireless Operations To T-Mobile For $4.3 Bln

(RTTNews) - Telephone and Data Systems, Inc. (TDS), along with Array Digital Infrastructure, Inc. (USM), Friday announced the closing of the previously announced divestiture of the latter's wireless operations and select spectrum assets to T-Mobile US, Inc. for $4.3 billion.

Array, previously known as United States Cellular Corp., intends to change its ticker symbol on the NYSE to "AD" for its common stock, expecting to trade under the new name and symbol on August 12, 2025.

In light of this transaction, Douglas Chambers will assume the role of interim President and CEO of Array. Prior to this, Chambers served as Executive Vice President, Chief Financial Officer and Treasurer of UScellular.

Walter Carlson, TDS President and CEO, commented, "The successful completion of this transaction has delivered significant shareholder value and has positioned the continuing Array business with a strong balance sheet and a tower infrastructure business poised for growth and value creation."

Currently, TDS is falling 3.71 percent, to $37.94 on the New York Stock Exchange.