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AT&T Announces Multi-Million-Dollar Spectrum Investment

AT&T stated Tuesday it will spend US$780 million in cash to obtain more wireless spectrum. It is purchasing the US retail wireless operations of Atlantic Tele-Network -- a carrier with operations primarily in rural areas of six states -- including the company’s wireless spectrum licenses, network assets, retail stores, and approximately 585,000 subscribers. The spectrum it will obtain are licenses for the 700MHz – used for its 4G LTE -- 850MHz, and 1900MHz bands. The latter bands are used by AT&T for its 2G and 3G networks. AT&T had attempted to purchase T-Mobile in 2011, but it was not approved by regulators. AT&T has concentrated on smaller deals to acquire spectrum. Regulators must still approve the transaction. AT&T expects the deal to close in the second half of 2013. (CNET)(AT&T via Business Wire)

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