FCC Approves AT&T Inc. (T) Deal to Buy Wireless Spectrum License

​AT&T Inc. (NYSE:T) is one of the Cheap NYSE Stocks to Buy Now. On December 4, Reuters reported that the Federal Communications Commission (FCC) approved AT&T Inc.’s (NYSE:T) deal to buy wireless spectrum license UScellular. The deal is worth $1.02 billion and has been approved by the FCC after the company agreed to end its DEI programs. The company said in a letter to the FCC that “it does not and will not have any roles focused on DEI.”

President Trump’s administration has been requiring telecom carriers to end their DEI programs as a condition for approving major transactions. Officers at FCC noted that this deal will result in improved network capacity and coverage for AT&T Inc.’s (NYSE:T) customers. Other telecom carriers have also ended their DEI programs. For instance, T-Mobile shut down its DEI program in July to secure a $4.4 billion US Cellular wireless acquisition and a fiber joint venture with KKR. Moreover, earlier in May, Verizon Communications also agreed to end the program to get its $20 billion deal to acquire fiber-optic internet provider Frontier Communications approved.

​According to the report by Reuters, the Rural Wireless Association has been opposing the approval. The association notes it to be a trend that harms competition and disserves the public interest of rural Americans. The group believes the deal will result in price hikes and connectivity difficulties with roaming.

​‍AT&T Inc. (NYSE:T) operates as a major telecommunications company offering a broad range‌ of communications and connectivity services.

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Disclosure: None. This article is originally published at Insider Monkey.