Deals
T-Mobile Swap Gives Verizon Spectrum, $2.4 Billion in Cash
This article is for subscribers only.
T-Mobile US Inc. agreed to buy airwaves from Verizon Wireless for about $2.4 billion in cash as part of a spectrum swap that will give both companies more network capacity in areas where they need it.
T-Mobile, the fourth-largest U.S. wireless carrier, will purchase 700-megahertz A-block spectrum licenses from Verizon, according to a statement today. As part of the exchange, Verizon, the largest U.S. wireless carrier, will get so-called AWS and PCS licenses, which have a combined value of about $950 million.