Qualcomm

AT&T to buy Qualcomm's spectrum licenses for $1.93 bn

No. 2 US mobile service AT&T Inc said it agreed to buy spectrum licenses in the Lower 700 MHz frequency band from Qualcomm Inc for 

$1.93 bn, to provide advanced 4G mobile broadband . 

The Lower 700 spectrum covers more than 300 mn people in the United States, the companies said in a joint statement. 

As part of its longer-term 4G network plans, AT&T intends to deploy this spectrum as supplemental downlink, using carrier aggregation 

technology, the company said in the statement. 

Qualcomm, which currently uses the licenses to support the service business of its FLO TV unit, expects to shut down the FLO TV business 

in March 2011. 

AT&T and Qualcomm expect the sale to close during the second half of calendar year 2011. 

AT&T shares were trading up 12 cents at $29.33 on Monday on the New York Stock Exchange in trading before the bell. Qualcomm shares were 

up 29 cents at $49.75 on Nasdaq.