AT&T's 700 MHz Acquisition Approved
Although AT&T could still be bidding in the FCC's current auction, it looks to have already won a nice chunk of 700 MHz licenses. The commission has approved AT&T's buyout of Aloha Partners, including its coveted spectrum holdings, which are estimated to cover 196 million people in 281 markets. AT&T offered to buy Aloha for $2.5 billion in cash.
Aloha owned 12 MHz within the 700 MHz band, acquired in a previous spectrum auction; it had two limited market trials but never used the licenses to build out a wireless network. Aloha bought the licenses at a deep discount, and as part of the FCC's approval, AT&T will have to make up for the discounted price, including interest, before it can complete the deal.
