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Bloomberg: Verizon, T-Mobile close to spectrum deal

  • 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.
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