FCC Approves Transfer of AT&T Spectrum to T-Mobile2012.04.26 11:10 by Daniela
Keywords: FCC, AT&T, T-Mobile
T-Mobile said Wednesday that the FCC had approved AT&T's transfer of spectrum in 12 of the top 20 markets to T -Mobile as part of its multibillion dollar breakup fee after the FCC and Justice rejected the merger between the two companies.
The transfer was a requirement under the merger contract the companies agreed to last year. The provision required that if the companies could not complete their $39 billion merger bid, AT&T would pay T-Mobile $3 billion in cash and $1 billion in wireless spectrum assets.
T-Mobile USA plans to use the spectrum to help it upgrade its network for higher-speed data services. T-Mobile USA has committed to spend $4 billion on improving its network and deploying new technology in 2013.
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