Verizon (VZ) Nears Agreement to Sell Airwaves to T-Mobile (TMUS)
Tweet
Share
E-mail
Get Alerts TMUS Hot Sheet
Price: $188.02 +0.38%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.3%
Revenue Growth %: +5.5%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.3%
Revenue Growth %: +5.5%
Join SI Premium – FREE
(Updated - December 13, 2013 2:40 PM EST)
Verizon Communications (NYSE: VZ) and T-Mobile (NYSE: TMUS) are near a deal which would see T-Mobile gain unused airwaves, and give Verizon cash and spectrum in return.
Bloomberg reported on Friday that the deal would include 700-megahertz (MHz) spectrum for Verizon and T-Mobile would get frequencies covering 150 million people.
In total, the deal is estimated to be worth about $3 billion.
The move would be a boost for T-Mobile, which has been looking to extend its nationwide coverage. Verizon would also be able to ease loads on its current networks with the acquired spectrum.
The deal could be announced sometime next week.
T-Mobile is trading positive Friday, while Verizon is slumping.
Verizon Communications (NYSE: VZ) and T-Mobile (NYSE: TMUS) are near a deal which would see T-Mobile gain unused airwaves, and give Verizon cash and spectrum in return.
Bloomberg reported on Friday that the deal would include 700-megahertz (MHz) spectrum for Verizon and T-Mobile would get frequencies covering 150 million people.
In total, the deal is estimated to be worth about $3 billion.
The move would be a boost for T-Mobile, which has been looking to extend its nationwide coverage. Verizon would also be able to ease loads on its current networks with the acquired spectrum.
The deal could be announced sometime next week.
T-Mobile is trading positive Friday, while Verizon is slumping.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Exclusive: PayPal cuts 220 jobs in India, 160 in Ireland
- Kustom Entertainment outlines plan for TFL acquisition and synergies
- HF Foods acquires Canadian seafood distributor Searay Foods for ~$35M
Create E-mail Alert Related Categories
Insiders' Blog, Mergers and Acquisitions, RumorsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
