AT&T says to use funds from ops, debt to pay FCC

21/03/2008 - 16:59
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(Reuters) - AT&T Inc said it will use a combination of funds from operations and debt to pay the $6.64 billion fee to the Federal Communication Commission, after winning 227 regional wireless spectrum licenses.

In a filing with U.S. regulators, the No. 1 U.S. mobile phone company said it will have to make the initial down payment of $1.33 billion to the FCC, of which it has already paid $500 million, by 10 business days from March 20.

The remaining $5.31 billion will be paid on or before 20 business days from March 20, the company said.

AT&T and the No. 2 wireless provider Verizon Communications dominated the FCC's auction that started January 24 and ended Tuesday after 260 rounds of bidding.

(Reporting by Sweta Singh; Editing by Gopakumar Warrier)

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