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T-Mobile Buys $3.3 Billion Worth of Spectrum from Verizon

T-Mobile US and Verizon announced Monday they have reached an expected deal in which T-Mobile will pay $2.36 billion in cash and $950 million worth of spectrum to acquire a huge chunk of 700MHz spectrum licenses from Verizon. With the move, T-Mobile says it will have low-band airwaves in nine of the top ten U.S. markets and 21 of the top 30. Such airwaves are particularly useful for in-building coverage and for the edges of cities as well as to reach more rural areas.

By Ina Fried

T-Mobile US and Verizon announced Monday they have reached an expected deal in which T-Mobile will pay $2.36 billion in cash and $950 million worth of spectrum to acquire a huge chunk of 700MHz spectrum licenses from Verizon. With the move, T-Mobile says it will have low-band airwaves in nine of the top ten U.S. markets and 21 of the top 30. Such airwaves are particularly useful for coverage inside buildings and for the edges of cities as well as to reach more rural areas.

This article originally appeared on Recode.net.

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