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T-Mobile USA and AT&T have filed a request with the Federal Communications Commission for approval of the $1 billion in wireless spectrum AT&T now owes T-Mobile as part of the break-up free due to the failure of AT&T’s T-Mobile takeover. AT&T promised to turn over the spectrum, along with $3 billion cash if the deal fell through.
“This additional spectrum will help meet the growing demand for wireless broadband services,” said Tom Sugrue, T-Mobile’s senior vice president for government affairs, in an emailed statement. “We hope the FCC will move swiftly to approve the license assignments.”
T-Mobile says it needs the additional spectrum to keep pace with its larger competitors. The companies need permission from the FCC to make the handover of spectrum work according to plan though no deadline was discussed for the transition.
Wall Street Journal