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.