Report: Verizon Considering Bid for Straight Path

Verizon could reportedly top AT&T's bid for Straight Path in a move that would give the number one US mobile carrier more spectrum suitable for future 5G services.

AT&T Inc. (NYSE: T) revealed last Monday that it had put together a $1.6 billion bid for Straight Path Communications Inc. The deal was expected to close within a year. (See AT&T to Flash $1.6B for Straight Path 5G Spectrum.)

Now Thomson Reuters is reporting that Verizon Communications Inc. (NYSE: VZ) is considering bettering the AT&T offer. Straight Path, meanwhile, says that it is considering another offer from an unnamed party.

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If Verizon tops AT&T's offer for Straight Path, it could get nationwide 39GHz spectrum for its fixed wireless 5G plans and shut AT&T out from getting 28GHz licenses in cities like New York City and San Francisco. (See AT&T & Straight Path: What's It All Mean for US 5G?)

All this behind-the-scenes activity is naturally helping to drive up Straight Path's share price. The spectrum holder's shares are up 16.07% at $106 on Monday.

— Dan Jones, Mobile Editor, Light Reading

DanJones 4/17/2017 | 3:55:25 PM
Re: Good one Depends how much Straight Path wants them if the deal doesn't go through, in the linked SEC filing they note that AT&T will pay $85 million if the deal isn't closed by July 2018.
mendyk 4/17/2017 | 3:04:05 PM
Good one Seems like a good move for Verizon -- or at least better than the Yahoo thing.
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