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Sprint and T-Mobile partner for wireless spectrum auction

Sprint and T-Mobile are working together to build a war chest to purchase wireless spectrum next year (NYSE:S, NYSE:TMUS)

| Business, Financial & Legal News | Posted: Jul 17, 2014 5:00 pm

Mobile phone providers want to have all the wireless spectrum they can get their hands-on. The catch is that wireless spectrum is very expensive making it hard to come up with the cash to get hands-on all the spectrum many firms want. That fact results in some odd bedfellows.

 

TweakTown image news/3/9/39142_8_sprint_and_t_mobile_partner_for_wireless_spectrum_auction.jpg

 

Such is the case with a planned partnership with Sprint and T-Mobile for the upcoming wireless spectrum auctions. The two are teaming up, despite being rivals in the wireless industry, to raise $10 billion that can be used to purchase wireless spectrum according to sources.

 

The spectrum that the two are eyeing is currently used by TV broadcasters. The auction will be held sometime in 2015. The funds that will be used in the spectrum purchase are part of the $45 billion SoftBank has put together to finance the Sprint purchase of T-Mobile, if the deal gets approved.

NEWS SOURCES:Online.wsj.com

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