White & Case along with Sullivan & Cromwell advised on AT&T’s US$23 billion spectrum acquisition from EchoStar.

AT&T and EchoStar have also agreed to enhance their long-term wholesale network services agreement, enabling EchoStar to operate as a hybrid mobile network operator providing wireless service under the Boost Mobile Brand.

AT&T helps more than 100 million U.S. customers and nearly 2.5 million businesses connect to greater possibility.

The license sale to AT&T will enable rapid deployment of the purchased spectrum to US consumers across the country. Through Boost Mobile’s hybrid MNO infrastructure, subscribers will continue to receive service from Boost Mobile’s cloud-native 5G core connected to AT&T’s leading nationwide network. Under the terms of the transaction, AT&T will acquire 30 MHz of nationwide 3.45 GHz mid-band spectrum and 20 MHz of nationwide 600 MHz low-band spectrum, allowing the company to continue to lead as a wireless service provider through enhanced 5G coverage, greater reliability and faster speeds.

The proceeds of the transaction will be used for, among other things, retiring certain debt obligations and funding EchoStar’s continued operations and growth initiatives.

White & Case LLP has advised EchoStar (NASDAQ: SATS), a globally, fully integrated communications and content delivery leader, on its entry into a definitive agreement to sell the company’s 3.45 GHz and 600 MHz spectrum licenses to AT&T for approximately US$23 billion, subject to regulatory approval and other closing conditions. In addition, the companies have amended their network services agreement to create a hybrid mobile network operator (MNO) relationship. This transaction is part of EchoStar’s ongoing efforts to resolve the Federal Communications Commission’s inquiries.

The White & Case team was led by M&A partners Michael Deyong and Daniel Dufner (both in New York); Capital Markets partners Jonathan Michels (New York) and A.J. Ericksen (Houston); and Financial Restructuring and Insolvency partners Thomas Lauria (Miami) and Matthew Linder (Chicago). The team also included M&A associates Dilara Erik and Isabelle James (both in New York); Capital Markets associate Elizabeth Mapelli (New York); and Tax partners David Dreier and Adriana Zhan (both in New York).

S&C is advising AT&T in its $23 billion all-cash acquisition of wireless spectrum licenses from EchoStar.

The S&C team advising AT&T includes Eric Krautheimer, Melissa Sawyer, Bailie Mittman, Michael Nishida and Matthew Maeder. Ari Blaut, Alexa Kranzley and Elizabeth Fu are advising on financing matters. Isaac Wheeler, Jameson Lloyd and James Jang are advising on tax matters. Pat Brown is advising on disclosure and securities matters.