T-Mobile Increases Spectrum Holdings
T-Mobile US has agreed to purchase 10 MHz of Advanced Wireless Services spectrum from U.S. Cellular for $308 million, T-Mobile announced today.
That AWS spectrum can serve 32 million people in the Mississippi Valley region. The 29 markets covered include St. Louis, Nashville, Kansas City, Memphis, Lexington, Little Rock-North Little Rock, Birmingham, New Orleans, and Louisville.
"This is a rare opportunity to secure precious AWS spectrum in key markets that will immediately be put to use by both T-Mobile and MetroPCS customers," said T-Mobile CEO John Legere. The deal still needs approval from the Federal Communications Commission and Justice Department. The companies expect the transaction to close in the fourth quarter.
T-Mobile recently merged with MetroPCS to create publicly held T-Mobile US. Before the merger, the previously named T-Mobile USA was a private company held by German company Deutsche Telekom. Deutsche Telekom holds 74% of the newly formed company.
The article T-Mobile Increases Spectrum Holdings originally appeared on Fool.com.
Fool contributor Dan Radovskyhas no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.