As part of the deal, T-Mobile will receive spectrum covering 150 million people, according to BTIG LLC analyst Walt Piecyk. The nation's fourth largest carrier apparently outbid AT&T for the airwaves. The spectrum, part of a group known as "A block," was purchased by Verizon in 2008 for $2.6 billion. For T-Mobile, this is the type of spectrum that its COO Jim Alling has called the missing piece to its coverage.
Verizon is also going to receive some AWS spectrum from T-Mobile in the deal. The nation's largest carrier hopes to use this to free up some bandwidth in areas where it has heavy network traffic, like in New York City.
The deal will require permission from the FCC before it officially closes.