Verizon Wireless Adds More Spectrum in $3.6 Billion Deal
Deal with SpectrumCo solidifies wireless provider's leadership position
As AT&T struggles to keep its deal with T-Mobile alive, Verizon Wireless has struck a deal to get some new spectrum of its own, buying some off SpectrumCo, LLC for $3.6 billion.
If regulators approve the agreement, Verizon Wireless will add 122 advanced wireless spectrum licenses, bolstering its leadership position in wireless services.
"Spectrum is the raw material on which wireless networks are built, and buying the AWS spectrum now solidifies our network leadership into the future, and will enable us to bring even better 4G LTE products and services to our customers," said Dan Mead, Verizon Wireless' president and CEO.
The owners of SpectrumCo will share in the proceeds according to their equity position.
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