DLA Piper advises T-Mobile in its US$3.5 billion acquisition of spectrum licenses
DLA Piper advised T-Mobile US, Inc. in its acquisition of spectrum licenses in the 600 MHz band from Channel 51 License Co LLC and LB License Co, LLC in exchange for total cash consideration of US$3.5 billion, of which approximately US$1.9 billion will be paid to Channel 51 License and approximately US$1.6 billion will be paid to LB License.
The geographic areas covered by the licenses include markets in Los Angeles, Chicago, San Francisco, Washington, Philadelphia, Boston, Dallas, Houston, and other key markets.
The licenses range from 10MHz to 30MHz per market and cover over 108 million pops—approximately one third of the US population. The licenses are being acquired without any associated network, but the licenses are currently being utilized by T-Mobile through exclusive leasing arrangements with 51 License and LB License.
Nancy Victory, co-chair of DLA Piper’s Global Telecom Practice who, with M&A partner Marc Samuel, led the deal team, said, “We were pleased to work with T-Mobile on this strategic acquisition and combine our deep industry knowledge and experience to support T-Mobile’s expansion efforts.”
In addition to Victory and Samuel (both in Washington, DC), the DLA team was comprised of partner Shaked Hoter (Washington, DC) and associates Peter Shroyer (Washington, DC) and Alexis Elder (in Short Hills, NJ).
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