Why T-Mobile's Stock Is Trading Higher Today

T-Mobile TMUS shares are trading higher on Tuesday after the company signed a multi-year tower deal with American Tower.

Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, creating T-Mobile US. Following the merger, the firm provided nationwide service in major markets but spottier coverage elsewhere.

T-Mobile is the third-largest carrier in the U.S., trailing AT&T and Verizon, though it will roughly match AT&T's size with the acquisition of Sprint.

T-Mobile shares were trading up 2.94% at $115.57 on Tuesday at the time of publication. The stock has a 52-week high of $119.20 and a 52-week low of $63.50.