AT&T Buys Bandwidth from Verizon for $1.9 Billion

AT&T has signed over quite a hefty check to its rival Verizon Wireless.

The US telecom giant revealed on Friday that it is paying $1.9 billion to Verizon for a big portion of radio spectrum, which will cover and meet the demand for wireless internet for 42 million people in 18 US states.

The purchase comes as a result of ever increasing demands for mobile internet services AT&T offers customers for its tablet computers, smartphones, and other devices.

This isn’t the only major financial deal AT&T has made in recent days. The telecommunications company announced mere days ago that it will buy Atlantic Tele-Network Inc for  $780 million in cash.

Read more on The Chicago Tribune.