The deal worth $1.9bn will help the US telecom carrier bolster its LTE 4G services across the US
The U.S. Federal Communications Commission (FCC) has given AT&T a go-ahead to acquire 700 MHz spectrum blocks from Qualcomm.
The deal worth $1.9bn will help the US telecom carrier bolster its LTE 4G services across the US.
AT&T had announced its intention buy spectrum from Qualcomm last December.
This purchase will enable AT&T to get also 6MHz of spectrum in five major metropolitan areas of New York, Boston, Philadelphia, Los Angeles and San Francisco. There are about 70m potential subscribers in these five metropolitan areas.
Bob Quinn AT&T senior vice president said this spectrum would help AT&T continue to deliver a world-class mobile broadband experience to their customers.
AT&T said both the companies are expecting to close the transaction in the coming days.
Paul Jacobs chairman and chief executive officer of Qualcomm said this was a positive outcome for Qualcomm and its stakeholders.
The FCC said in its order approving the sale that AT&T customers will experience faster and better service, according to the Bloomberg.