Telephone and Data Systems withdraws Array Digital Infrastructure acquisition bid

Telephone and Data Systems (TDS) has withdrawn its proposal to acquire the remaining public common shares of Array Digital Infrastructure. While TDS will maintain its existing approximately 82% ownership interest in Array, the companies were unable to reach an agreement regarding the value and form of consideration for the remaining shares.

Following the withdrawal, TDS announced it expects to resume its share repurchase programs. The company noted that approximately $523.9 million remains available for repurchases, which includes a $500 million authorization announced in November 2025.

TDS and Array intend to continue working together to pursue opportunities to monetize Array’s remaining wireless spectrum assets.