T-Mobile to buy spectrum licenses from Verizon
BELLEVUE, Wash. -- T-Mobile has reached deals to buy spectrum licenses from Verizon Wireless for $2.37 billion in cash.
T-Mobile is also transferring other kinds of spectrum licenses to Verizon Wireless that the companies value at about $950 million.
The deals, combined with T-Mobile's existing holdings, will give T-Mobile low-band spectrum in nine of the top 10 U.S. markets.
Low-band spectrum boosts cellular coverage inside buildings and in rural areas. It also has the ability to travel greater distances than high-band spectrum, making it a more efficient way to provide coverage at the edge of cities and in less densely populated areas.
T-Mobile US Inc., owned by Germany's Deutsche Telekom AG, plans to roll out service and compatible phones as early as the fourth quarter of 2014. The deals are expected to close in mid-2014 and remain subject to regulatory approvals.
verizon, t-mobile, business
- Harlem explosion, collapse leaves 2 dead, 22 hurt 21 min ago
- Malaysian military says missing jet changed course
- Fresno couple wins $1 million on scratcher
- Arrest made in Tulare Co officer-involved shooting
- Scammers nearly took a Merced woman for big cash
- Surveillance video released in Hanford murder
- No time added for killer of Atwater prison guard
- 5-alarm fire destroys SF building under construction
- Photos: Massive fire damages vacant building in SF
- Mariposa is putting limits on marijuana grows
- Noticeable drop in Valley flu cases
- New painkiller 10 times stronger than Vicodin
- Athletes embracing "extreme" exercise trends
- Senator: CIA improperly searched computer network