T-Mobile USA wins U.S. mobile licenses for $4.2 billion

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T-Mobile USA, a unit of Deutsche Telekom AG (DT), has won 120 mobile licenses in the U.S. with a bid of $4.2 billion, in a move that will help the company expand its presence in the important U.S. market.

T-Mobile acquired the spectrum in an auction of licenses by the U.S. Federal Communications Commission, which was completed Monday in the U.S. The licenses are for regions across the United States and in Hawaii, Puerto Rico/U.S. Virgin Islands, Alaska and cities including New York, Los Angeles and Chicago.

Read the complete story here. (Marketwatch)