Qualcomm Incorporated (NASDAQ: QCOM) reported its wholly owned subsidiary, Qualcomm UK Spectrum (QUKS), has agreed to sell the entirety of its UK L-Band spectrum (1452 — 1492 MHz) in two separate transactions.
Under a transaction between QUKS and Vodafone UK (Vodafone), Vodafone agreed to purchase 20 MHz of the spectrum. Under a separate transaction between QUKS and Hutchinson 3G UK Limited (H3G), H3G has agreed to purchase 20 MHz of the spectrum.
Harmonized and mandated for mobile broadband by the European Union in May 2015, L-Band spectrum can be used for Supplemental Downlink (SDL), helping Mobile Network Operators to meet the global demand for increased mobile data traffic.
Both sales are subject to regulatory approval and other customary closing conditions. Both QUKS and Vodafone and H3G will shortly submit respective applications to transfer the spectrum for UK communications regulator Ofcom approval.
Details of the terms of the sales are not disclosed.
Akira Partners LLP acted as Qualcomm Incorporated´s exclusive financial advisor on the transaction.
Qualcomm Incorporated is a world leader in 3G, 4G and next-generation wireless technologies.