T-Mobile, known for its recent successful acquisition of Mint Mobile for $1.3 billion, is now setting its sights on another regional carrier – US Cellular. The regional carrier has been exploring potential buyers, and it seems that T-Mobile and Verizon are the top contenders.

According to a report from the Wall Street Journal, negotiations between T-Mobile and US Cellular are nearing completion, with T-Mobile expected to purchase a significant portion of US Cellular’s assets for approximately $2 billion. On the other hand, talks with Verizon have hit a snag for undisclosed reasons.

Both T-Mobile and Verizon are eyeing US Cellular’s operations and spectrum licenses to strengthen their positions in the telecommunications market. However, US Cellular will retain ownership of its 4,000 cell towers, which will be sold separately.

The primary motivation behind these acquisitions is to prevent any potential antitrust issues. If negotiations between Verizon and US Cellular fall through, it is unlikely that T-Mobile will pursue acquiring all of the regional carrier’s assets.

Stay tuned for more updates on this developing story as T-Mobile and Verizon navigate the acquisition process with US Cellular.