Bloomberg: Verizon, T-Mobile close to spectrum deal

|About: Verizon Communications (VZ)|By:, SA News Editor

Bloomberg reports Verizon (VZ -0.5%) is close to a deal to sell its 700MHz. A-block spectrum (good for rural areas) to T-Mobile USA (TMUS +0.6%) for a mixture of cash and urban spectrum, and could announce a sale next week.

The much-rumored deal would help T-Mobile expand its rural coverage, and allow Verizon to improve its 4G coverage in cities where it's investing heavily to cope with surging 4G data traffic.

The report comes shortly after the FCC delayed the auctioning of 600MHz. spectrum badly coveted by T-Mobile and Sprint to mid-2015.