AT&T to Buy Spectrum Licenses from Aloha Partners

AT&T agreed to buy 49 advanced-wireless services spectrum licenses from Aloha Partners II as the telecommunications giant said it is working to stay ahead of "soaring demand" for mobile Internet services.

The licenses cover nearly 50 million people in 14 states: California, Colorado, Connecticut, Idaho, Illinois, Indiana, Kentucky, Maine, Massachusetts, New Hampshire, New Jersey, Ohio, Pennsylvania and Texas. AT&T expects to close the deal, which is subject to regulatory approval, in the second half of the year. Aloha, the eighth-largest wireless spectrum owner in the US, was formed in 2004. A previous partnership, Aloha Partners LP, agreed to sell wireless licenses to AT&T for $2.5 billion in 2007.