att buys Spectrum License to deliver wireless voice, data and video services
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AP
AT&T Buys Spectrum Licenses for $2.5B
Tuesday October 9, 7:12 am ET
AT&T Buys Spectrum Licenses Across the United States for $2.5 Billion
SAN ANTONIO (AP) -- AT&T Inc. said Tuesday it agreed to buy spectrum licenses from Aloha Partners LP for about $2.5 billion, expanding the telecommunication provider's ability to deliver wireless voice, data and video services.
The deal adds 12 megahertz of spectrum at the 700 MHz frequency, covering 196 million people in 281 markets, the company said. It also boosts AT&T's presence in 72 of the top 100 metropolitan areas.
AT&T, the exclusive carrier for Apple Inc.'s iPhone, has been aggressively expanding its wireless network in recent years in the face of customer complaints about service and availability.
The company expects to close the purchase in six to nine months, pending regulatory approval.
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