AT&T has agreed to acquire Verizon Wireless’ 39 lower 700 MHz B block licenses for $1.9bn.
The service currently covers 42 million people in 18 US states.
As part of the deal, AT&T said it will also give Verizon licenses to 10 MHz Advanced Wireless Services spectrums in Los Angeles, Phoenix, Fresno and Portland.
Verizon has also agreed to sell lower 700 MHz B block licenses covering the Charlotte, Greensboro and Raleigh-Durham areas in North Carolina, to the US-based private-equity firm Grain Management for $189m.
The transactions are subject to approval by the US Federal Communications Commission (FCC) and the Department of Justice.
Verizon has agreed to sell 35 of its 77 lower B block licenses to 10 different entities which include transactions that were initiated prior to the sale process.
Verizon said the latest deals will complete the lower 700 MHz sale process.
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Last year, the US Federal Communications Commission (FCC) approved Verizon Wireless’ agreements worth $3.9bn in order to purchase wireless spectrum owned by Comcast, Time Warner Cable, Bright House Networks and Cox Communications.
