Verizon Selling $2.35 Billion Wireless Spectrum License To AT&T
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Verizon has given permission from the FCC to sell a $2.35 billion wireless spectrum license sale to AT&T. Verizon is selling the assets as a condition for regulatory approval of for their purchase of Alltel this past January.
AT&T stated last week that they expect to close the purchase by the end of this month. AT&T said that this deal will bring in 1.6 million new customers and they plan to expand their network across 79 service areas across 18 states. [Reuters]