Verizon and T-Mobile may not regularly make headlines together, but this morning the two companies have announced that they've struck a deal to swap spectrum (and some money) to bolster both companies' LTE networks. Yes, including the one T-Mobile has yet to build. While specifics haven't been disclosed, it sounds like T-Mobile will be the big winner here, walking away with a net gain in spectrum holdings—something the company desperately needs—while paying an undisclosed amount of money to Verizon for the trouble.
The deal isn't solid yet, though. Some of the spectrum that Verizon is offering to T-Mobile technically belongs to SpectrumCo, Cox, and Leap at the moment.