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AT&T's long-held complaint about its lack of spectrum is about to end. The FCC just approved AT&T's plan to purchase a portion of the 700 MHz spectrum from Qualcomm, along with fairly light regulations.
AT&T only just ended its bid to acquire T-Mobile. AT&T cited concern about its lack of spectrum - a very old complaint of theirs and one of the major reasons they claimed they wanted to acquire T-Mobile.