What happens when you can’t buy T-Mobile? You put that pile of cash to use somewhere Else

We all know the biggest reason AT&T wanted to buy T-Mobile wasn’t because of it’s awesome customers, great employees or their devices. The main reason they wanted to pick them up was for the towers and spectrum. They would have dominated the service area in the U.S. had the deal not been blocked at every opportunity. Looks like AT&T had a back up plan already in place if the purchase didn’t go as planned. Still on the prowl for spectrum, AT&T put an offer out and picked up Qualcomms 700MHz spectrum instead. They reportedly dropped $1.9 Billion on the purchase. The deal cruised right through the FCC this time with a 3 – 1 vote. Attached was some fine print for AT&T, but nothing they can’t handle. Whats a little sharing among the competition anyways.

If you are wonder why the heck Qualcomm had spectrum to sell since they make processors and aren’t a cell carrier, well, it was for their failed Flo TV service they tried to initiate. With that product line essentially dead, why let it just sit around wasting money. I am sure they can put $1.9 billion to better use in technology for our devices.

AT&T* announced today that it has received all required regulatory approvals for AT&T’s acquisition of spectrum from Qualcomm. AT&T is purchasing 700 MHz spectrum licenses covering more than 300 million people for approximately $1.9 billion.

“This spectrum will help AT&T continue to deliver a world-class mobile broadband experience to our customers,” said Bob Quinn, senior vice president-Federal Regulatory, AT&T. “We appreciate the FCC Chairman, the Commissioners and their staff for completing its review before the holidays.

“As spectrum is the lifeblood of the U.S. wireless industry, we are pleased that the FCC did not reduce the spectrum screen, however, we continue to believe any changes to the process by which it is allocated should be subject to open and transparent public discussion and clear to everyone with an interest in ensuring the health of our industry.”

The companies expect to close the transaction in the coming days.

Source: Phandroid