After being slapped over the attempt to acquire T-Mobile USA, AT&T (NYSE:T) got better news over its bid of $1.93 billion for airwaves held by Qualcomm (NASDAQ:QCOM).
The Federal Communications Commission gave its approval for the deal to go foward, which frequencies acquired will cover approximately 300 million people.
AT&T, and others, have been scrambling to expand the amount of spectrum they hold in response to the growing demand for wireless Internet service from the increasing number of gadgets used by consumers and businesses.
Qualcomm owned the frequencies because of the attempt to launch a mobile-television service, which they later abandoned.
AT&T closed Thursday at $29.66, gaining $0.36, or 1.23 percent. Qualcomm closed at $54.38, climbing $0.89, or 1.66 percent.
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