After announcing a blockbuster US$3.6bn spectrum acquisition earlier this month, US mobile operator Verizon Wireless has agreed to buy another 20MHz of AWS spectrum from US cableco Cox Communications for US$315m.
In a statement, Cox said that the two…
After announcing a blockbuster US$3.6bn spectrum acquisition earlier this month, US mobile operator Verizon Wireless has agreed to buy another 20MHz of AWS spectrum from US cableco Cox Communications for US$315m.
In a statement, Cox said that the two companies would also become agents to sell each other’s “residential and commercial products and services” through their own sales channels.
They added that Cox may eventually have the option to sell the services of Verizon Wireless on a wholesale basis.
Cox also said that it expects to “enter into arrangements” with the JV set up by Verizon Wireless and three cablecos (Bright House Networks, Comcast and Time Warner Cable).
Cox also specified that the agreement to sell spectrum does not include its 700MHz spectrum licences, the customer accounts of its “Cox Wireless” service or any other assets.
The deal is subject to regulatory approval.
Last month, Cox said that it would no longer sell its “Cox Wireless” service, although it will continue providing wireless services to customers until the end of March 2012.
Verizon Wireless is a JV between Verizon Communications (55% stake) and Vodafone (45% stake).
Verizon Wireless has been on a spending spree for spectrum in recent weeks.
On 2 December, it announced that it had agreed to acquire 122 AWS licences from SpectrumCo, a JV made up of Bright House Networks, Comcast and Time Warner Cable – for US$3.6bn.
On 5 December, the mobile operator Leap Wireless said that Verizon Wireless would pay US$188m in exchange for AWS and PCS spectrum in various parts of the US.
The deal also involved Verizon Wireless acquiring AWS spectrum from Savary Island LLC, Leap’s “non-controlled, majority-owned venture”, for US$172m.
Meanwhile, Leap plans to acquire 12MHz OF 700MHz A block spectrum in Chicago from Verizon Wireless for US$204m.
