T-Mobile (NASDAQ: TMUS) today announced the completion of its previously announced spectrum transaction with Grain Management, LLC. Under the transaction, T-Mobile transferred its 800 MHz spectrum portfolio to Grain in exchange for $2.9 billion in cash and all of Grain’s 600 MHz spectrum licenses.

The transaction received Federal Communications Commission approval on July 1, 2026. Additional details are available in T-Mobile’s March 20, 2025 announcement.

Advisors

TAP Advisors served as the financial advisor for T‑Mobile. Cleary Gottlieb Steen & Hamilton LLP and DLA Piper served as legal advisors for T-Mobile.

About T-Mobile US, Inc.

As the supercharged Un-carrier, T-Mobile US, Inc. (NASDAQ: TMUS) is powered by an award-winning 5G network that connects more people, in more places, than ever before. With T-Mobile’s unique value proposition of best network, best value and best experiences, the Un-carrier is redefining connectivity and fueling competition while continuing to drive the next wave of innovation in wireless and beyond. Headquartered in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Mint Mobile. For more information, visit https://www.t-mobile.com.

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