Tuesday, July 28th25.9°C
26925
26015

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




Recent Trending




Today's Market
S&P TSX14077.36+75.99
S&P CDNX586.97+5.25
DJIA17630.27+189.68
Nasdaq5089.21+49.43
S&P 5002093.25+25.61
CDN Dollar0.7733-0.0005
Gold1097.10+0.60
Oil48.35-0.06
Lumber259.50+3.40
Natural Gas2.84+0.02

 
Okanagan Companies
Pacific Safety0.175-0.005
Knighthawk0.010.00
QHR Technologies Inc1.37+0.01
Cantex0.05+0.00
Anavex Life Sciences0.78-0.13
Metalex Ventures0.06-0.01
Russel Metals18.35-1.10
Copper Mountain Mining0.82+0.02
Colorado Resources0.06+0.00
ReliaBrand Inc0.0045-0.0022
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.15+0.00
Decisive Dividend Corp2.60-0.10

 





FEATURED Property
2266329230 Crossridge Crescent
4 bedrooms 3 baths
$499,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...


Income from home equity

Photo: Thinkstock.comWhen retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this option might be a good ...

_



27052

27114


Member of BC Press Council


26465