Telephone and Data Systems (TDS) announced the successful closure of the sale of Array's wireless operations and select spectrum assets to T-Mobile. The transaction officially concluded on August 1, 2025, marking a significant milestone in TDS's strategic transformation.
This divestiture generated $2.629 billion in cash proceeds for Array, along with a debt exchange of $1.68 billion. The substantial cash infusion and debt reduction significantly de-leveraged Array and, by extension, improved TDS's consolidated financial position.
Following the closure, Array repaid an additional $863 million in outstanding term loan and export credit financing agreements. The completion of this sale allows TDS to sharpen its focus on its remaining core assets, including the Array Towers business and the fiber-driven expansion of TDS Telecom.
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