Qualcomm to sell L-Band UK spectrum to Vodafone, Hutchison

[August 26, 2015]  (Reuters) - Chipmaker Qualcomm Inc said it agreed to sell its UK L-Band spectrum to Vodafone Group Plc and Hutchison 3G UK Ltd in two separate deals.

Qualcomm said Vodafone and Hutchison 3G would buy 20 MHz each of the spectrum from its unit Qualcomm UK Spectrum.

The company had put the spectrum known as L-Band up for sale in June. The spectrum can be used to boost the downloading capacity that mobile operators provide to customers.

Qualcomm did not disclose the terms of the deal announced early Wednesday.

Bloomberg reported late Tuesday, citing people familiar with the matter, that the spectrum deal was valued at about 200 million pounds ($313.84 million). (http://bloom.bg/1hd01NB)

(Reporting by Ismail Shakil in Bengaluru; Editing by Anupama Dwivedi)

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