Business Daily from THE HINDU group of publications
Tuesday, February 5, 2008
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Business Daily from THE HINDU group of publications Tuesday, February 5, 2008 |
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News Update as at 18.00 hrs (IST)
Global News / Markets AT&T's wins nod for $2.5 billion cellular licence deal WASHINGTON: AT&T Inc., the largest US cell phone provider, won the US government approval to buy highly coveted airwaves licences that cover 196 million people in 281 domestic markets. The Federal Communications Commission yesterday released an order approving the company's $2.5 billion cash buyout of Aloha Partners LP and its spectrum holdings. The licences are in the much-sought-after 700-megahertz band that is being vacated by television broadcasters. It is next to spectrum that is currently being auctioned by the FCC and has drawn record bids. Sixty-two megahertz are up for auction. The Aloha transaction is for 12 megahertz. AT&T provides wireless service to 63.7 million customers, more than any other wireless provider in the nation, according to the company.
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