In recent months, Verizon Wireless has sold
its lower 700MHz B Block licenses in several markets, but it has mostly been to
smaller regional carriers. Verizon today announced it has reached agreement to
sell similar licenses to chief rival AT&T.
Verizon has agreed to sell its 700 MHz B
Block licenses in 39 markets throughout the U.S., though mainly in the west and
southwest portions of the country. The deal will net Verizon $1.9 billion and
AWS (10 MHz) licenses from AT&T, and give AT&T additional spectrum in
Los Angeles, Miami, and Portland, among other places. The transaction is
expected to close soon after it obtains the necessary approval from the FCC and
Department of Justice.
Verizon will obtain additional AWS spectrum
and sell off more licenses in another transaction with private equity firm
Grain Management. The carrier will sell B Block licenses in Charlotte,
Greensboro, and Raleigh-Durham, North Carolina for $189 million. It will then
lease AWS licenses in Dallas, Texas from Grain Management .
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