T-Mobile's HSPA+ data network is, y'know, okay. But it doesn't compare to LTE. Now, when T-Mo will finally arrives at the LTE party next year, it'll get a big boost with spectrum from Verizon.
The agreement, announced this morning, will include a bunch of spectrum swaps. Both companies will have a larger footprint, which should benefit customers on each network. T-Mobile is also handing Verizon an undisclosed-but-you-can-bet-significant chunk of change. The deal does hinge on Verizon buying spectrum from SpectrumCo, Cox, and Leap. In the unlikely event that those deals fail, the T-Mo agreement could go belly-up.
Why Verizon? Since the T-Mo/AT&T engagement ended, T-Mobile can carouse with whoever it wants, so it might as well go to the LTE frontrunner. This should help jumpstart T-Mo's 2013 LTE rollout in a major way.