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FCC approves T-Mobile's $2.4 billion spectrum deal

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The FCC has approved a $2.4 billion deal that would give T-Mobile rights to 700 MHz A block spectrum that's currently unused by Verizon. The deal was first announced in January, but the FCC's regulatory go-ahead removes the last obstacle, giving T-Mobile a clear path to broader, faster LTE service. The deal is particularly notable since the 700 MHz band is seen as one of the most desirable spots on the spectrum, and a place where giants like Verizon and Sprint had held a clear advantage over the scrappier T-Mobile holdings. T-Mobile is also giving Verizon the rights to some of its AWS and PCS spectrum as part of the deal.