AT&T to buy Verizon spectrum in deal including $1.9 bln cash

NEW YORK Fri Jan 25, 2013 10:22am EST

NEW YORK Jan 25 (Reuters) - AT&T Inc said Friday it has agreed to buy wireless airwaves from Verizon Wireless for $1.9 billion in cash and spectrum licenses in five markets.

AT&T said the licenses it is buying cover a population of 42 million people in 18 U.S. states.

It expects to close the deal, which is subject to regulatory approval, in the second half of 2013.

Verizon Wireless is a venture of Verizon Communications and Vodafone Group Plc.

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