T-Mobile US Inc is doubling down on 5G services by selling its wireline business to Cogent Communications Holdings Inc in a deal it expects to result in a $1 billion pre-tax charge.
T-Mobile has been shifting its focus away from the wireline business, which includes assets from its $26 billion acquisition of Sprint Corp in 2020, as the carrier expands its 5G and high-speed internet services. Last year, the company earned $739 million in revenue from the business that houses communications systems, data processing equipment and fibre optic cable.
The company does not plan to issue new debt or equity to finance the acquisition and will continue to maintain its current dividend plan.
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