AT&T has announced that it is paying US$2.5 billion for radio spectrum licenses covering 196 million people in the 700 MHz frequency band from Aloha Partners, a Delaware limited partnership.
"Customer demand for mobile services, including voice, data and video, is continually increasing," said Forrest Miller, group president-corporate strategy and development. "Aloha's spectrum will enable AT&T to efficiently meet this growing demand and help our customers stay connected to their worlds."
The transaction enhances AT&T's spectrum position by adding 12 MHz of spectrum covering 196 million people in 281 markets. The spectrum covers many major metropolitan areas, including 72 of the top 100 and all of the top 10 markets in the United States.
The company anticipates receiving necessary government approvals and closing the transaction within six to nine months.
Aloha Partners is and was the largest buyer of spectrum in the FCC auctions of 700MHz radio frequencies in 2001 and 2003. Since that time Aloha has also acquired the second and third largest owners of 700MHz spectrum. As a result, prior to this sale, Aloha owns 12MHz of spectrum covering 60% of the United States - including all of the top 10 markets and 84% of the population in the top 40 markets.
Posted to the site on 9th October 2007
Posted to: www.cellular-news.com/story/26569.php