United States Cellular said on Friday it has agreed to sell some of its spectrum licenses to Verizon in a $1 billion deal. U.S. Cellular's shares jumped 3.9% in trading before the bell. The company will sell portion of its spectrum licenses used for mobile phone signals and high-speed data services to Verizon.

United States Cellular Corporation (NYSE:USM) shares are trading higher on Friday after the company agreed to sell part of its retained spectrum licenses to Verizon Communications Inc. (NYSE:VZ) for $1.

Verizon Communications Inc., the biggest wireless carrier in the US, will buy some of US Cellular Corp.’s spectrum licenses for $1 billion as the tower operator sheds parts of its portfolio.

Verizon Communications Inc., the biggest wireless carrier in the US, will buy some of US Cellular Corp.’s spectrum licenses for $1 billion as the tower operator sheds parts of its portfolio. Most Read from BloombergA Broken Oil Pipeline Plunges South Sudan’s Capital Into ChaosInside the ‘Utopias’ of Mexico CityCities Look to AI to Flag Residents’ Trash and Recycling MistakesOne City’s Plan to Re-Link a Neighborhood That Robert Moses DividedChicago Should Consider Furloughs,

Shares of mobile provider Verizon ($VZ) are slightly higher in today’s trading after announcing that it will shell out $1 billion to purchase