EchoStar Corporation has announced a definitive agreement with AT&T to sell its 3.45 GHz and 600 MHz spectrum licenses for approximately $23 billion. This transaction will allow AT&T to rapidly deploy the purchased spectrum across the U.S., benefiting both its customers and Boost Mobile subscribers. The agreement also includes a hybrid mobile network operator (MNO) relationship that will enable Boost Mobile to offer connectivity through its cloud-native 5G core and AT&T's cell sites. EchoStar's CEO, Hamid Akhavan, stated that the proceeds will be used to retire certain debts and support the company's growth initiatives. The transaction awaits regulatory approval, with no impact anticipated on EchoStar's other operations such as DISH TV, Sling, and Hughes.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.