T-Mobile Pays Verizon Nearly $2.4 Billion USD for A-Block Spectrum
January 6, 2014 11:11 AM
Verizon is receiving certain AWS and PCS spectrum licenses in exchange for the A-Block spectrum
T-Mobile and Verizon have swapped airwaves in an effort to gain spectrum where the two U.S. carriers need it most. T-Mobile paid Verizon $2.365 billion USD in cash for certain 700 MHz A-Block spectrum licenses. In exchange, Verizon is receiving certain AWS and PCS spectrum licenses from T-Mobile worth approximately $950 million USD.
On T-Mobile's end, the new licenses will fill in the gaps in its network coverage. More specifically, it will provide T-Mobile with low-band spectrum in nine of the top 10 markets across the U.S.
“This is a great opportunity to secure low-band spectrum in many of the top markets in America,” said John Legere, President and CEO of T-Mobile. “These transactions represent our biggest move yet in a series of initiatives that are rapidly expanding our already lightning fast network and improving its performance across the country. We will continue to find ways to advance our customers’ network experience just as our bold Un-carrier moves have shaken up the wireless industry to benefit consumers.”
This could make T-Mobile look even more appealing in a
. Just last month, it was reported that SoftBank Corp. -- which already acquired U.S. carrier Sprint last summer for $21.6 billion USD -- is in talks with banks like Credit Suisse Group AG, Mizuho Bank Ltd, Goldman Sachs Group Inc and Deutsche Bank AG in an effort to acquire a majority stake in T-Mobile. The deal has been valued at around $20 billion.
Some reports say T-Mobile could continue filling in its coverage gaps by looking to other owners of A-block spectrum, such as U.S. Cellular Corp. But nothing has been confirmed in that area yet.
T-Mobile raised approximately $4 billion USD last year in an effort to buy new spectrum licenses and expand its network.
As for Verizon, its new AWS and PCS spectrum licenses from T-Mobile will help relieve wireless network congestion in cities with heavy traffic (which affects performance). These key cities are Los Angeles, San Francisco, Dallas, Detroit and Atlanta.
The deal is expected to close by mid-2014.
"If a man really wants to make a million dollars, the best way would be to start his own religion." -- Scientology founder L. Ron. Hubbard
SoftBank in Talks with Financial Institutions for T-Mobile Deal
December 26, 2013, 11:42 AM
The USA’s newest weather satellite sends first photos.
January 24, 2017, 6:41 AM
Netflix took a decision to invest in original content
January 19, 2017, 7:00 AM
Amazon Airborne Fulfillment Center – Your Merchandise Drop-Shipped from the Clouds
December 29, 2016, 5:00 AM
Amazon is experimenting with a new kind of grocery stores, Amazon Go
December 8, 2016, 5:00 AM
Google has developed Deep Learning Algorithm to detect Diabetic Eye Disease
December 4, 2016, 5:00 AM
Google plans ultra-fast wireless Internet for Research Triangle Park, N.C.
August 12, 2016, 6:30 AM
Most Popular Articles
Android Instant Tethering Only Works for Pixel and Nexus Handsets
February 13, 2017, 7:30 AM
New iMac and Release Date
February 4, 2017, 9:30 AM
Intel Core vPro – Upgrade to 4 GHz Business Class
February 13, 2017, 6:41 AM
LG G6 – The Latest Flagship Smartphone by LG for 2017
February 14, 2017, 7:05 AM
HP Spectre x360 – 4K Brilliance and Long Battery Life
February 11, 2017, 7:22 AM
Latest Blog Posts
Around the World
Feb 18, 2017, 5:48 AM
News of Future
Feb 17, 2017, 6:30 AM
Amazon parachutes May Float Packages to Customers
Feb 16, 2017, 8:00 AM
Now you Can Watch Facebook on Your TV
Feb 15, 2017, 7:42 AM
Feb 14, 2017, 5:36 AM
Razer Blade Stealth – Little Kaby Lake Powerhouse
Feb 13, 2017, 7:50 AM
Android 7.0 Nougat 7.0 Update Bring Less Battery Life for Samsung Galaxy S7 & S7 Edge
Feb 12, 2017, 7:45 AM
Apple iPhone 8 – OLED Display & Wireless Charging
Feb 11, 2017, 8:09 AM
Feb 10, 2017, 6:15 AM
Feb 9, 2017, 6:00 AM
Eye catching news
Feb 8, 2017, 6:16 AM
Some World News
Feb 7, 2017, 6:15 AM
Feb 6, 2017, 10:11 AM
Feb 5, 2017, 7:27 AM
Notes and News
Feb 4, 2017, 5:53 AM
Feb 3, 2017, 5:30 AM
Feb 2, 2017, 7:00 AM
News Around The World.
Feb 1, 2017, 7:20 AM
Jan 31, 2017, 7:57 AM
Tips of Today
Jan 30, 2017, 6:53 AM
What is new?
Jan 29, 2017, 6:26 AM
More Blog Posts
Copyright 2017 DailyTech LLC. -
Terms, Conditions & Privacy Information