The US telecoms regulator, FCC, has cleared AT&T’s US$1.925bn acquisition of spectrum from Qualcomm. The move had been expected after FCC chairman Julius Genachowski circulated a clearance order in late November already.
In its decision, the regulator…
The US telecoms regulator, FCC, has cleared AT&T’s US$1.925bn acquisition of spectrum from Qualcomm. The move had been expected after FCC chairman Julius Genachowski circulated a clearance order in late November already.
In its decision, the regulator said the deal “holds the promise of meaningful transaction-specific public interest benefits that support the Commission approving the proposed transaction. In particular, we anticipate that the proposed transaction would facilitate the transition of underutilized unpaired 700 MHz spectrum towards mobile broadband use, thereby supporting our goal of expanding mobile broadband deployment throughout the country.”
AT&T said the companies expect to close the transaction in the coming days.
The transaction, which sees AT&T acquiring spectrum licences in the lower 700MHz frequency band from Qualcomm, was announced in December 2010.
Qualcomm had been using the licences to support its mobile TV subsidiary, FLO TV, which was closed down in early 2011.