Verizon isn't using the 700 MHz block itself and AT&T will likely use the bandwidth to beef up its 4G LTE deployment, CNET reported Friday.
The sale is part of Verizon's promise to regulators it would make its 700MHz B block spectrum available in return for approval of a separate deal to allow it to acquire a larger swath of spectrum from cable providers.
With smartphone use and their wireless data appetites growing by leaps and bounds, wireless carriers have been improving bandwidth positions to maintain the capability to deliver services without disruption or data traffic jams.
AT&T announced Tuesday said it would buy the U.S. retail operations of Atlantic Tele-Network for $780 million, largely to obtain its spectrum assets.
T-Mobile USA and MetroPCS, meanwhile, are merging in a strategy of combining their spectrum allotments to better accommodate the data needs of both of their customer bases.