AT&T Acquires $1.925 Billion in Spectrum Licenses from Qualcomm (T, QCOM)


Shutterstock photo

Telecom giant AT&T Inc. ( T ) said Monday that is has agreed to buy spectrum licenses in the Lower 700 MHz frequency band from Qualcomm ( QCOM ) for $1.925 billion.

Qualcomm has been using the spectrum for its FLO TV business, which is expected to be shut down in March 2011. The spectrum currently covers around 300 million people in the United States.

The transaction is expected to be completed in the second half of 2011.

AT&T shares rose 22 cents, or +0.8%, while Qualcomm shares rose 63 cents, or +1.3%, in premarket trading Monday.

The Bottom Line
Shares of AT&T ( T ) have a 5.89% dividend yield, based on Friday's closing stock price of $29.21.
Shares of Qualcomm ( QCOM ) have a 1.54% dividend yield, based on Friday's closing stock price of $49.46.

AT&T Inc. ( T ) is a "Recommended" dividend stock, holding a DARS™ Rating of 3.5 out of 5 stars. Qualcomm ( QCOM ) is not recommended, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by

This article appears in: Investing , Stocks
More Headlines for: QCOM , T

More from

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by