Sprint says will sit out of 2016 airwaves auction

Sprint Corp (S.N) will not join the U.S. government’s auction of airwaves set for early 2016, as it has adequate airwaves to currently build out its network and for its future needs, the company said on Saturday.

The U.S. Federal Communications Commission is gearing up to auction off valuable 600 megahertz airwaves that can travel long distances and penetrate buildings, to wireless carriers, which are clamoring for faster speeds for data-guzzling customers.

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