A tower has a range of frequencies, just like a wifi system. So these frequencies go on an auction and companies which want more bandwidth buy more and vice versa. The tower broadcasts a range of frequencies, and some of the frequencies belong to some companies.
For a more ELI5 answer, think of a radio being able to connect to different channels coming from different locations/signals. The different radio stations are your cellular companies and the radio is your cell tower. Instead of throwing out signals in terms of audio, the cell tower just throws the signal in its range.
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