T-Mobile US Inc

TMUS: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$167.00	Xzvjy	Qtbklppdk

T-Mobile Takes Another Step Toward Spectrum Control Through Auction 108 as AT&T, Verizon Play Nice

Michael Hodel

Sep 2, 2022

T-Mobile not only dominated Federal Communications Commission spectrum auction 108, but it did so at a great price, spending only $304 million to solidify its hold on the EBS portion of the 2.5-gigahertz spectrum band. The small sum is a modest positive for valuation, but we’re leaving our fair value estimate at $155 per share for now. For context, T-Mobile’s spectrum spending in 2022 will total about $7 billion, split between an earlier, more traditional spectrum auction and an agreement to acquire licenses it is currently leasing from investment firm Columbia Capital.

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