Tuesday, October 21st8.8°C
23836
22646

T-Mobile reaches deals to buy spectrum licenses from Verizon for $2.37B plus other licenses

BELLEVUE, Wash. - T-Mobile said Monday that it's reached deals to buy spectrum licenses from Verizon Wireless for $2.37 billion in cash, allowing it to improve certain kinds of cellular service in markets across the U.S.

The agreements also include the transfer of other kinds of spectrum licenses from T-Mobile 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.

Combined with T-Mobile's existing holdings, the low-band spectrum will cover about 158 million people in U.S. markets including New York, Los Angeles, Dallas, Houston, Philadelphia, Atlanta, Washington, D.C., and Detroit.

T-Mobile USA, the No. 4 U.S. carrier, is owned by Germany's Deutsche Telekom AG. It said it 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.

T-Mobile US Inc. shares rose 17 cents to $32.74 in premarket trading.

The Canadian Press


Read more Business News

23041


Recent Trending




Today's Market
S&P TSX14337.77+110.09
S&P CDNX811.351.22
DJIA16399.6719.26
Nasdaq4316.075+57.637
S&P 5001904.01+17.25
CDN Dollar0.8885+0.0026
Gold1247.60+2.90
Oil81.88+0.50
Lumber330.40-0.50
Natural Gas3.677+0.007

 
Okanagan Companies
Pacific Safety0.10-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.12+0.01
Cantex0.055-0.025
Anavex Life Sciences0.191+0.001
Metalex Ventures0.050.00
Russel Metals32.28-0.07
Copper Mountain Mining1.99+0.05
Colorado Resources0.15+0.005
ReliaBrand Inc0.0111-0.0019
Sunrise Resources Ltd0.060.00
Mission Ready Services0.450.00

 



23021

FEATURED Property
2100379#22-3620 Brown Road
3 bedrooms 3 baths
$392,350
more details
image2image2image2
Click here to feature your property
Please wait... loading


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

_



23803




Member of BC Press Council


23691