T Mobile to acquire most of U.S. cellular operations in $4.4 billion deal

T-Mobile is acquiring US Cellular's wireless operations and specific assets in a deal valued at $4.4 billion, according to the Associated Press. T-Mobile will acquire approximately 4 million new customers through the deal, further concentrating the telecommunications industry.

According to the AP, T Mobile will enter a new license for over 2,000 cell towers, and extend lease terms for around 600 other towers. CEO Mike Sievert stated that the acquisition aims to "create a better experience for all of our customers with more coverage and more capacity."

Analysts predict that the merger could have negative ramifications for the cell service industry, which already has little competition. Dan Ives from Wedbush Securities told the AP the centralizing efforts within the industry could further increase in the coming years.