Verizon Selling $2.35 Billion Wireless Spectrum License To AT&T

Posted Jun 23, 2010

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]