India, Aug. 26 -- AT&T Inc. (T), a telecom holding company, said on Tuesday that it has agreed to buy certain wireless spectrum licenses from EchoStar Corporation (SATS) for around $23 billion in cash.
John Stankey, CEO of AT&T, said: "This acquisition bolsters and expands our spectrum portfolio while enhancing customers' 5G wireless and home internet experience in even more markets."
AT&T intends to finance the spectrum purchase with cash on hand and incremental debt. The transaction is expected to be closed in mid-2026.
AT&T will acquire around 30 MHz of nationwide 3.45 GHz mid-band spectrum and approximately 20 MHz of nationwide 600 MHz low-band spectrum. These licenses cover virtually every market across the U.S., which includes over...