December 22, 2011 10:28 PM EST
(Reuters) AT&T Inc said late Thursday that it won regulatory approval to buy wireless spectrum from U.S. chipmaker Qualcomm Inc, a move that would boost the company's 4G network.
AT&T is buying 700 megahertz (MHz) airwaves for about $1.93 billion, with the aim of countering criticism over iPhone service quality and competitive threats from rivals like Verizon Wireless.
"This spectrum will help AT&T continue to deliver a world-class mobile broadband experience to our customers," Bob Quinn, an AT&T senior vice president, said in a statement.
The companies expect to close the transaction in the coming days, AT&T said.
(Reporting by Sakthi Prasad in Bangalore; Editing by Matt Driskill)
Follow us
Curt Schilling Fires Entire Staff in ‘Non-Voluntary’ Layoffs at Video Game Company 38 Studios
Ben & Jerry’s Lock Protects Your Ice Cream Pints From Thieves, Where To Buy The 'Euphori-Lock' [PHOTOS]
Jonathan Ive: Apple's Next Project Is 'Most Important,' 'Best Work We've Done'
Memorial Day Sales 2012: 25 Best Deals, Discounts And Bargains Online And In Stores For MDW Holiday Weekend
Facebook, ‘Titanic' Of IPOs, Could Poison Tech Company PipelineWe value your privacy. Your email address will not be shared.
