AT&T Receives Regulatory Approval for Purchase of Wireless Spectrum from Qualcomm

Wow.. I wish I had a spare $1.9 billion dollars floating around… That’s what AT&T just spent on purchasing the 700MHz spectrum licenses that will cover more than 300 million people. I guess it’s a good investment if they make money from them.

AT&T* announced today that it has received all required regulatory approvals for AT&T’s acquisition of spectrum from Qualcomm. AT&T is purchasing 700 MHz spectrum licenses covering more than 300 million people for approximately $1.9 billion.

“We appreciate the FCC Chairman, the Commissioners and their staff for completing its review before the holidays.”

"This spectrum will help AT&T continue to deliver a world-class mobile broadband experience to our customers," said Bob Quinn, senior vice president-Federal Regulatory, AT&T. "We appreciate the FCC Chairman, the Commissioners and their staff for completing its review before the holidays.

"As spectrum is the lifeblood of the U.S. wireless industry, we are pleased that the FCC did not reduce the spectrum screen, however, we continue to believe any changes to the process by which it is allocated should be subject to open and transparent public discussion and clear to everyone with an interest in ensuring the health of our industry."

The companies expect to close the transaction in the coming days.

*AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.