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US Cellular Submits $327 million Bid for 600 MHz Spectrum

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US Cellular Submits $327 million Bid for 600 MHz Spectrum Image Credit: US Cellular

The fifth largest wireless network operator in the US, US Cellular disclosed via filing to SEC that it has submitted bids for a minimum amount of $327 million for the FCC’s 600 MHz spectrum.

“With the completion of the Clock Phase of the auction, U.S. Cellular is now committed to purchase 600 MHz spectrum licenses on which it submitted bids for a minimum amount of $327 million, subject to increase as the FCC completes the Assignment Phase of the auction, which is pending,” the company wrote. “U.S. Cellular expects to be obligated to pay for the total committed amount, less the $143 million upfront payment made in June 2016, in the second quarter of 2017. U.S. Cellular currently expects to make such payment using cash on hand and/or borrowings under its revolving credit agreement.

Ray is The Fast Mode's editor and content director. Ray has covered the wireless industry as a writer for more than 10 years, focusing on technology and business aspects of the telecoms sector. Ray can be reached at ray.sharma(at)thefastmode.com. Follow Ray at linkedin.com/in/raysharma10

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