(Bloomberg) — Shares of United States Cellular Corp. rose as much as 19% on Thursday after a Wall Street Journal report that T-Mobile US Inc. and Verizon Communications Inc. approaching separate deals to buy parts of the telecommunications company.
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T-Mobile would pay more than $2 billion for a share of US Cellular, according to the report, which cited people familiar with the matter. That deal could close as soon as this month, while the Verizon deal could take longer or not close at all, they said.
US Cellular’s jump caused at least one volatility-related trading halt and is the stock’s biggest intraday gain in nearly a year. Telephone and Data Systems Inc. – which holds about 73% of US Cellular’s publicly traded shares – rose as much as 25% and was also briefly halted due to volatility.
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