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T-Mobile will pay Verizon more than $3 billion to improve network with spectrum buy

News by Andrew Kameka on Monday January 06, 2014.

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T-Mobile has confirmed previous rumors that the fourth place carrier would make a big spectrum buy from the leading carrier, Verizon Wireless. T-Mobile will pay Verizon $2.365 billion in cash and transfer AWS and PCS spectrum licenses in select markets that are worth $950 million.

In exchange, Verizon will transfer 700 MHz A-Block spectrum licenses in select markets, allowing T-Mobile to pair with its existing holdings in 21 of the top 30 major markets in the United States. More than half of its currently served population will see improvements, including in cities like New York, Los Angeles, Dallas, Houston, Philadelphia, Atlanta, Washington D.C., and Detroit.

The deal will improve indoor coverage of T-Mobile's network, and reach farther outside of city centers more efficiently to increase average performance. The deal is still subject to approval by the FCC and Department of Justice, but the carrier expects to close the transaction by mid-2014. Once approved, the service will be available as soon as the final three months of 2014.

source: T-Mobile

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Andrew Kameka
Andrew is based in Miami, Florida.

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