Earlier today T-Mobile and Verizon agreed to a large swap and transfer of AWS spectrum for their 4G networks, and now just await an FCC approval. Both parties will be using the exchange to broaden their networks, improve connection, and reach more customers. This is a big step for T-Mobile since announcing their 4G LTE plans after being denied a buyout by AT&T.

Verizon will use and re-purpose the new spectrum to improve their 4G rollout that has been moving along quite well, and T-Mobile will use the sale to boost their current HSPA+ 4G network — as well as help them along with their LTE plans for early 2013. The deal has been inked although we don’t have too many specifics. The spectrum covers roughly 218 US markets – covering 60m people — and for now just waits approval.

If approved, the deal will improve T-Mobile’s spectrum stance in 15 of the top 25 markets today in the US. Sadly the deal is far from being done because a slice of Verizon’s pie isn’t even owned by them yet. They are still waiting FCC approval for spectrum from Cox, SpectrumCo, and Leap Wireless. Once those get approved (if they do) then they’ll be able to move forward with the T-Mobile deal.

This looks to be a pretty good move and deal for both companies, hopefully it gets approved and on its way so T-Mobile and Verizon customers can benefit from the changes.

[via SlashGear]