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Verizon Wireless Gets Final Clearance for $3.6 Billion Radio Spectrum Deal
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The USA's telecoms regulator, the FCC has conditionally approved Verizon Wireless' $3.6 billion purchase of radio spectrum from a group of cable TV network operators and the sale of other spectrum to T-Mobile USA.
The final clearance for the deal was expected after the Department of Justice granted its own approval earlier this week.
The spectrum, which comprises of 122 Advanced Wireless Services spectrum licenses is being sold by SpectrumCo, a joint venture between Comcast , Time Warner Cable, and Bright House Networks.
In order to secure approval though, the company also then announced a deal to swap blocks of radio spectrum with Verizon Wireless in 218 markets across the country. T-Mobile said the purchase will improve its spectrum position in 15 of the top 25 markets in the USA.
The regulator added a condition that Verizon Wireless must close its proposed spectrum transfer with T-Mobile within 45 days of its closing of the SpectrumCo, Cox, and Leap transactions.
The regulator also imposed minimum standards for rolling out its network in areas covered by the new radio spectrum, and will be obliged to offer mobile data roaming in any of the areas where it is acquiring the new radio spectrum for at least five years.
The licenses, nearly all of which cover 20MHz of spectrum, are in markets covering 259 million person of population (POPs). The acquired spectrum will also complement Verizon Wireless' existing AWS spectrum portfolio, which is located east of the Mississippi River.
At the time of the transaction, Fitch Ratings noted that the acquisition is expected to extend the adequacy of Verizon Wireless' spectrum position in a significant number of markets to beyond its previously stated date of approximately 2015.
Tags: [verizon wireless] [leap wireless] [t-mobile usa] [fcc] [radio spectrum] [USA]
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