Senator Cruz questions private investment firm plan to acquire T-Mobile wireless spectrum
Senator Cruz questions private investment firm plan to acquire T-Mobile wireless spectrum WASHINGTON, June 15 (Reuters) - 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 TMUS.O 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."
(Reporting by David Shepardson, Editing by Franklin Paul)
((David.Shepardson@thomsonreuters.com; 2028988324;))
Recent news on T-Mobile Us
See all newsUS STOCKS ON THE MOVE-American Express, Gorman-Rupp, Moderna
US telecom stocks fall on report of SpaceX wireless carrier talks
US cell tower operators rise on SpaceX's push to build mobile network
US telecom stocks fall on report of SpaceX wireless carrier talks
SpaceX seeks access to 80,000 US cell sites for wireless network, Bloomberg News reports