T-Mobile closes UScellular deal, adds fiber JVs, ups buyback to up to $18.2B amid restructuring

Filed July 23, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 23, 2025 · ~2 min read

Key Changes

• high

  UScellular acquisition closed Aug 2025 for $2.8B cash + $1.7B debt exchange; company targets $1.2B annual run-rate synergies ($950M opex, $250M capex) and has incurred $830M in integration costs through Q2 2026.

  MD&A: UScellular Acquisition verify on EDGAR →
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  Board increased 2026 buyback authorization from up to $14.6B to up to $18.2B in April 2026; company repurchased $7.1B of shares in H1 2026 and raised quarterly dividend 16% to $1.02/share.

  MD&A: Capital Allocation verify on EDGAR →
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  Announced two new fiber JVs: $700M for i3 Broadband (H2 2026 close) and $2.0B for GoNetspeed/Greenlight (H1 2027 close), following Metronet ($4.6B, closed July 2025) and Lumos models.

  MD&A: Fiber Strategy verify on EDGAR →