AT&T receives approval for spectrum purchase

23 December 2011 |

AT&T has received regulatory approval from the FCC for its purchase of $1.93 billion of spectrum from Qualcomm.

AT&T is buying spectrum in the 700 MHz band in an acquisition that is considered vital for the company’s expansion of its 4G LTE network in order to compete with Verizon Wireless.

The decision is welcome news for the company after giving up on its proposed $39 billion merger with T Mobile earlier this week, following months of speculation.

The companies expect to close the transaction in the next few days.