U.S. Cellular agreed to sell a portion of its retained spectrum licenses to AT&T for a consideration of $1.02 billion.

US Cellular Corp. agreed to sell some spectrum assets to AT&T Corp. for $1.02 billion as the tower operator continues the sale of its portfolio.

(Reuters) - United States Cellular said on Thursday it has agreed to sell a portion of spectrum licenses used to transmit mobile phone signals and high-speed data services to AT&T in a $1.02 billion deal.

United States Cellular said on Thursday it has agreed to sell a portion of spectrum licenses used to transmit mobile phone signals and high-speed data services to AT&T in a $1.02 billion deal.

US Cellular will sell select spectrum licenses to AT&T in a $1.02 billion cash deal, continuing to monetize the spectrum not part of the proposed sale to T-Mobile. A spectrum license allows carriers to use certain wireless bands for phone and data services in a given area.