Investing.com -- The Federal Communications Commission approved Verizon's $1 billion acquisition of spectrum assets from U.S. Cellular on Thursday. The deal allows Verizon to expand its network capacity and coverage.

The transaction was initially announced in 2024. T-Mobile acquired most of U.S. Cellular's wireless operations and 30% of its wireless spectrum in a separate $4.4 billion deal last year. Following that transaction, the remaining portion of U.S. Cellular changed its name to Array Digital Infrastructure.