Business & Finance
Senator Cruz questions private investment firm plan to acquire T-Mobile wireless spectrum
Key Points
Senator Cruz questions private investment firm plan to acquire T-Mobile wireless spectrum WASHINGTON, June 15 : The chair of the Senate Commerce Committee on Monday questioned a plan from private investment firm Grain Management to acquire key wireless spectrum from T-Mobile but potentially delay its use for years. Last year, T-Mobile agreed to sell its portfolio of 800 MHz licenses to private investment firm Grain Management for $2.9 billion in cash and all of Grain's 600 MHz spectrum...
Senator Cruz questions private investment firm plan to acquire T-Mobile wireless spectrum
WASHINGTON, June 15 : The chair of the Senate Commerce Committee on Monday questioned a plan from private investment firm Grain Management to acquire key wireless spectrum from T-Mobile but potentially delay its use for years.
Last year, T-Mobile agreed to sell its portfolio of 800 MHz licenses to private investment firm Grain Management for $2.9 billion in cash and all of Grain's 600 MHz spectrum licenses. Republican Senator Ted Cruz said in a letter seen by Reuters the Federal Communications Commission should only approve the deal "with specific, enforceable deployment requirements. The United States cannot afford to let valuable spectrum remain underutilized as demand continues to increase."