SAN DIEGO, Aug. 26, 2015
/PRNewswire/ -- Qualcomm Incorporated (NASDAQ: QCOM)
today announced that its wholly-owned subsidiary, Qualcomm UK
Spectrum (QUKS), has agreed to sell the entirety of its UK L-Band
spectrum (1452 – 1492 MHz) in two separate transactions.
Under a transaction between QUKS and Vodafone UK (Vodafone),
Vodafone agreed to purchase 20 MHz of the spectrum. Under a
separate transaction between QUKS and Hutchinson 3G UK Limited
(H3G), H3G has agreed to purchase 20 MHz of the spectrum.
Harmonized and mandated for mobile broadband by the European
Union in May 2015, L-Band spectrum
can be used for Supplemental Downlink (SDL), helping Mobile Network
Operators to meet the global demand for increased mobile data
traffic.
SDL can help meet the demand for more downlink centric services,
such as video on-demand, to be delivered seamlessly to mobile
devices over a cellular data connection, even as data traffic
levels continue to increase. It also delivers increases in downlink
user experience through aggregation with licensed
Frequency-Division Duplexing (FDD) spectrum.
Both sales are subject to regulatory approval and other
customary closing conditions. Both QUKS and Vodafone and H3G
will shortly submit respective applications to transfer the
spectrum for UK communications regulator Ofcom approval.
Details of the terms of the sales are not disclosed.
Akira Partners LLP acted as Qualcomm Incorporated's exclusive
financial advisor on the transaction.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. Any
statements contained herein which do not describe historical facts,
including but not limited to statements regarding: the proposed
transaction between QUKS and Vodafone; the proposed transaction
between QUKS and H3G; the expected use of the L-Band spectrum for
Supplemental Downlink; strategic and other potential benefits of
the transactions; and any other statements about future
expectations, beliefs, goals, plans, or prospects, are
forward-looking statements which involve risks and uncertainties
that could cause actual results to differ materially from those
discussed in such forward-looking statements. Such risks and
uncertainties include: the possibility that certain closing
conditions to the transactions will not be satisfied; that required
regulatory approvals for the transactions may not be obtained in a
timely manner, if at all; the ability to timely consummate the
transactions and possibility that one or both of the transactions
will not be completed; the anticipated benefits of the transactions
may not be realized; and those additional factors discussed in
Qualcomm's most recent Quarterly and Annual Reports on Forms 10-Q
and 10-K filed with the Securities and Exchange Commission.
Investors are urged not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Qualcomm undertakes no obligation to revise or
update any forward-looking statements in order to reflect any event
or circumstance that may arise after the date of this press
release.
About Qualcomm Incorporated
Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G, 4G
and next-generation wireless technologies. Qualcomm Incorporated
includes Qualcomm's licensing business, QTL, and the vast majority
of its patent portfolio. Qualcomm Technologies, Inc., a
wholly-owned subsidiary of Qualcomm Incorporated, operates, along
with its subsidiaries, substantially all of Qualcomm's engineering,
research and development functions, and substantially all of its
products and services businesses, including its semiconductor
business, QCT, and its IoE businesses. For more than 30 years,
Qualcomm ideas and inventions have driven the evolution of digital
communications, linking people everywhere more closely to
information, entertainment and each other. For more information,
visit Qualcomm's website, OnQ
blog, Twitter and Facebook pages.
Qualcomm Contacts:
Tina Asmar, Corporate
Communications
Phone: 1-858-845-5959
Email: corpcomm@qualcomm.com
Warren Kneeshaw, Investor
Relations
Phone: 1-858-658-4813
Email: ir@qualcomm.com
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SOURCE Qualcomm Incorporated