T-Mobile US Inc said it would purchase spectrum licenses from Verizon Wireless for about $2.4 billion in cash to improve its high-speed wireless services in the United States.Verizon Wireless, owned by Verizon Communications Inc and Vodafone Group Plc, said last year it would consider selling unused A Block airwaves in the 700 megahertz frequency band.T-Mobile said the licenses cover over 150 million people in areas such as New York, Atlanta and Los Angeles and that it expects to roll out services on the spectrum from as early as the fourth quarter of 2014.T-Mobile was looking to buy the spectrum from Verizon Wireless to bolster capacity for data services, Reuters reported in November.
Shares of TMUS fell by 3.27% or $-1.09/share to $32.28. In the past year, the shares have traded as low as $16.01 and as high as $34.10. On average, 6491650 shares of TMUS exchange hands on a given day and today's volume is recorded at 8689632.
Vodafone Group Plc (Vodafone) is a mobile communications company. Shares of VOD fell by 1.18% or $-0.46/share to $38.41. In the past year, the shares have traded as low as $24.42 and as high as $39.44. On average, 9543640 shares of VOD exchange hands on a given day and today's volume is recorded at 7198490.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ fell by 1.18% or $-0.58/share to $48.42. In the past year, the shares have traded as low as $41.50 and as high as $54.31. On average, 12537600 shares of VZ exchange hands on a given day and today's volume is recorded at 12027625.
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