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Verizon Wireless may sell 700MHz spectrum
19 April 2012
Verizon Wireless to sell licences if regulators clear its $3.6bn spectrum acquisition from cable TV consortium
Verizon Wireless will sell some of its 700 megahertz spectrum if US regulators approve its proposed purchase of alternative spectrum from cable companies.
Verizon Wireless intends to undertake an open sale process for two blocks of its 700 megahertz licences, which cover major cities as well as rural regions, to streamline its spectrum holdings.
The operator acquired licences in three blocks of the 700 megahertz band for $9.4 billion through a Federal Communications Commission auction in 2008, but used only one block for its LTE network, and is looking to sell the other two licences through a bidding process.
The offer follows Verizon Wireless’s proposal to acquire spectrum from SpectrumCo — a consortium which represents cable operators Bright House Networks, Comcast and Time Warner Cable — for $3.6 billion, raising competition concerns.
Molly Feldman, vice president of business development for Verizon Wireless, said the extra spectrum would be “quickly and fairly made available for the benefit of other carriers and their customers”. GTB
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