FCC Approves Sale of 700 MHz Spectrum Licenses to AT&T (T) from Qualcomm (QCOM)
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Qualcomm Incorporated (NASDAQ: QCOM) today announced that the U.S. Federal Communications Commission has approved the sale of its Lower 700 MHz D and E Block (Channel 55 and 56) unpaired U.S. spectrum licenses to AT&T (NYSE: T).
The sale by Qualcomm to AT&T of the licenses for $1.925 billion was originally announced in December, 2010. The proposed transaction has been pending subject to the satisfaction of the conditions of closing.
In connection with the announcement of the transaction in 2010, AT&T indicated that, as part of its longer term 4G network plan, it intends to deploy this spectrum as supplemental downlink, using carrier aggregation technology. This new technology is designed to deliver substantial capacity gains by enabling unpaired spectrum to be used in conjunction with paired spectrum for 4G services.
The sale by Qualcomm to AT&T of the licenses for $1.925 billion was originally announced in December, 2010. The proposed transaction has been pending subject to the satisfaction of the conditions of closing.
In connection with the announcement of the transaction in 2010, AT&T indicated that, as part of its longer term 4G network plan, it intends to deploy this spectrum as supplemental downlink, using carrier aggregation technology. This new technology is designed to deliver substantial capacity gains by enabling unpaired spectrum to be used in conjunction with paired spectrum for 4G services.
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