AT&T agrees to buy spectrum from Aloha Partners II

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Associated Press

Posted on January 7, 2014 at 11:00 AM

Updated Tuesday, Jan 7 at 11:03 AM

DALLAS (AP) — AT&T has agreed to buy 49 advanced wireless services spectrum licenses from Aloha Partners II LP to help it stay ahead of rising demand for mobile internet services. Financial terms were not disclosed.

The licenses cover almost 50 million people in 14 states, including California, Colorado, Connecticut, Idaho, Illinois, Indiana, Kentucky, Maine, Massachusetts, New Hampshire, New Jersey, Ohio, Pennsylvania and Texas.

AT&T Inc. said Tuesday that the licenses it is acquiring will complement its existing advanced wireless services holdings.

The deal is expected to close in the second half of the year.

Shares of AT&T gained 3 cents to $34.99 in morning trading Tuesday.

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