T-Mobile announced on Tuesday that it agreed to acquire "substantially all" of U.S. Cellular’s wireless operations in a deal valued at $4.4 billion. 

Under the deal, T-Mobile will acquire all of U.S. Cellular’s wireless customers and stores. The deal also includes up to $2 billion in debt. 

T-Mobile said the deal would "create a much-needed choice for wireless in areas with expensive and limited plans from AT&T and Verizon, and for those that have been limited to one or no options for home broadband connectivity."

T-Mobile CEO Mike Sievert said customers of the two wireless carriers "will get more coverage and more capacity from our combined footprint."

This is a developing story. Check back for updates.