SAN FRANCISCO (AP) — The Federal Communications Commission has approved wireless carrier AT&T's $1.93 billion purchase of unused wireless spectrum from Qualcomm.
AT&T Inc. said a year ago that it planned to buy the spectrum to add capacity to its "4G" high-speed data network, which it has been rolling out across the country. Mobile technology company Qualcomm Inc. had used the spectrum for its FLO TV mobile television service, which it shut down because of weak customer interest.
On Thursday, the FCC said the purchase brings up some competitive concerns but they could be eased by conditions the commission outlined in its approval.
The approval comes just days after AT&T gave up on its $39 billion deal for smaller carrier T-Mobile USA following government concerns that the deal would raise prices and reduce competition.
Shares