T-Mobile US Inc (TMUS) receives approval from FCC for spectrum purchase

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The Federal Communications Commission (FCC) has approved of a $2.4 billion deal that gives T-Mobile US Inc (NYSE:TMUS) the rights to 700 MHz A block spectrum that is currently unused by Verizon.

 

This deal was first announced in January. By receiving approval from the FCC, T-Mobile can now move forward with the purchase. This will give T-Mobile broader and faster LTE service.

As part of the deal, T-Mobile is giving Verizon the rights to some of its AWS and PCS spectrum as part of the deal.

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