AT&T wins regulatory approval to buy Qualcomm spectrum

AT&T Inc said late on Thursday that it won regulatory approval to buy wireless spectrum from US chipmaker Qualcomm Inc, a move that would boost the company's 4G network.

AT&T is buying 700 megahertz (MHz) airwaves for about USD 1.93 billion, with the aim of countering criticism over iPhone service quality and competitive threats from rivals like Verizon Wireless.
"This spectrum will help AT&T continue to deliver a world-class mobile broadband experience to our customers," Bob Quinn, an AT&T senior vice president, said in a statement.
The companies expect to close the transaction in the coming days, AT&T said.