AT&T snaps up T-Mobile’s unwanted midband spectrum from UScellular
Description
AT&T is taking its cut from the breakup of UScellular. The company on Thursday inked a deal to buy lowband 700MHz and midband 3.45GHz spectrum from UScellular in a deal worth $1.01 billion.
That transaction follows Verizon’s announcement last month that it would buy $1 billion worth of UScellular’s spectrum in the 850MHz and AWS spectrum bands. And that deal stems from T-Mobile’s announcement in May to purchase around 30% of UScellular spectrum holdings in bands ranging from 600MHz to 700MHz, AWS, 2.5GHz and 24GHz. T-Mobile is also buying all of UScellular’s customers and its retail stores in a deal worth $4.4 billion.
All three deals still require regulatory approvals.
“As with the other mobile network operators, we are confident that AT&T can put it [the spectrum] to productive use in communities throughout the US,” UScellular CEO Laurent Therivel said in a release.
UScellular has so far sold off roughly 70% of its spectrum holdings, apart of its millimeter wave (mmWave) spectrum holdings. It’s not clear whether any other buyers might emerge for those remaining spectrum licenses.
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