T-Mobile (NASDAQ: TMUS) To Acquire AT&T’s (NYSE: T) Spectrum
Author By Sophia VidaPosted on People in Chicago may soon have something to smile about when it comes to their cell service.
In an effort to expand the company’s 4G LTE coverage in the U.S., T-Mobile US Inc. has entered into an agreement with AT&T Inc. to acquire spectrum in the 700 MHz band. AT&T had acquired this license as part of its takeover of Leap Wireless two years ago.
The agreement will help T-Mobile provide LTE network in the greater Chicago area.
After the completion of the AT&T deal, T-Mobile US will install LTE coverage in the top 10 markets of the U.S. No financial terms of the T-Mobile US – AT&T deal have been made public but the transaction is expected to close in the fourth quarter.
Back in 2014, T-Mobile US acquired 700 MHz spectrum from Verizon Communications Inc. in a deal worth multi-billions of dollars.
Disclaimer: We have no position in T-Mobile (NASDAQ: TMUS) nor AT&T (NYSE: T) and have not been compensated for this article.
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