AT&T wins approval to buy Qualcomm spectrum

AT&T Inc said late on Thursday that it won regulatory approval to buy wireless spectrum from U.S. chipmaker Qualcomm Inc, a move that would boost the company's 4G network.

AT&T Inc said late on Thursday that it won regulatory approval to buy wireless spectrum from U.S. chipmaker Qualcomm Inc, a move that would boost the company's 4G network.

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AT&T is buying 700 megahertz (MHz) airwaves for about $1.93 billion, with the aim of countering criticism over iPhone service quality and competitive threats from rivals like Verizon Wireless.

"This spectrum will help AT&T continue to deliver a world-class mobile broadband experience to our customers," Bob Quinn, an AT&T senior vice president, said in a statement.

The companies expect to close the transaction in the coming days, AT&T said.