T-Mobile Agrees to Acquire Sprint-branded Wireless Assets from Brookings Municipal Utilities

Rhea-AI Summary

T-Mobile US (NASDAQ: TMUS) has announced a definitive agreement to acquire the Sprint-branded wireless operating assets of Brookings Municipal Utilities (BMU) in South Dakota. This acquisition includes a network of cell sites, retail stores, and PCS spectrum, serving approximately 14,000 customers in the region. The deal aims to enhance T-Mobile's retail distribution and network coverage. The transaction is expected to close in Q1 2021, subject to customary conditions. T-Mobile's CEO, Mike Sievert, expressed enthusiasm about extending their services and expanding their presence in southeastern South Dakota and Western Iowa.

Positive

• Acquisition expands T-Mobile's retail footprint in southeastern South Dakota and Western Iowa.
• Enhanced network coverage for approximately 14,000 customers.
• Integration of BMU's assets will strengthen T-Mobile's market position.

Negative

• None.

T-Mobile US, Inc. (NASDAQ: TMUS) announced today that it has reached a definitive agreement to acquire the Sprint-branded wireless operating assets of Brookings Municipal Utilities (BMU) in Brookings, South Dakota. Under the former Sprint brand, BMU operates a network of cell sites and provides wireless and data services to approximately 14,000 customers in Sioux Falls, Watertown, and Brookings, South Dakota and Sioux City, Iowa. The acquisition will further expand T-Mobile’s retail distribution and enhance network coverage in the area. The deal includes BMU’s wireless network, retail stores, and PCS spectrum.

“T-Mobile is thrilled that we will soon be able to deliver all the benefits of our Supercharged Un-Carrier and America’s largest 5G network to our newest wireless customers in southeastern South Dakota and Western Iowa,” said Mike Sievert, President & Chief Executive Officer at T-Mobile. “Once fully integrated, we will expand our retail footprint in the area and bring T-Mobile’s award-winning approach to service to these customers. We can’t wait to serve them!”

Following the transaction, T-Mobile expects to fully integrate the acquired assets into T-Mobile’s network and retail distribution in the region. The consummation of the transaction is subject to certain customary closing conditions and we expect the closing to occur in Q1 2021.

About T-Mobile

T-Mobile US, Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Sprint. For more information please visit: http://www.t-mobile.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210104005794/en/

FAQ

What is T-Mobile's recent acquisition involving BMU?

T-Mobile has reached a definitive agreement to acquire the Sprint-branded wireless operating assets of Brookings Municipal Utilities in South Dakota.

How many customers are served by BMU's wireless network?

BMU provides services to approximately 14,000 customers in the region.

When is T-Mobile expected to complete the acquisition of BMU's assets?

The transaction is expected to close in Q1 2021, subject to customary closing conditions.

What benefits will T-Mobile's acquisition of BMU bring?

The acquisition will enhance T-Mobile's retail distribution and network coverage, allowing them to serve new customers in the area.