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5G

Straight Path Gets $3.1B Revised Bid From Unnamed Buyer

Straight Path said Monday that it has received a revised bid of $3.1 billion from an unnamed bidder -- widely believed to be Verizon -- and that AT&T has until Wednesday night to top the new offer.

The unnamed bidder initially made a $1.8 billion bid for Straight Path Communications Inc. on April 25. AT&T Inc. (NYSE: T) initially bid $1.6 billion for the spectrum holder on April 10. (See AT&T to Flash $1.6B for Straight Path 5G Spectrum and Did Verizon Outbid AT&T for Straight Path?)

Straight Path says AT&T now has three business days to top the revised offer. It also says the unnamed bidder will pay a $38 million termination fee to AT&T if the Straight Path Board terminates the AT&T merger agreement to go with the the other bidder.


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The bidders are trying to gain access to Straight Path's holdings of 39GHz and 28GHz spectrum. This millimeter wave bandwidth will be used for gigabit-plus 5G services, which are expected to appear from 2018 onwards. (See AT&T & Straight Path: What's It All Mean for US 5G?)

Straight Path's shares were trading up $43.51 -- or 26.94% -- at $205.00 on Monday morning.

— Dan Jones, Mobile Editor, Light Reading

DanJones 5/9/2017 | 11:52:46 AM
Re: Verizon I did wonder about SoftBank but they seem to want to use their 2.5GHz holdings first. VRZ doing this will help it block AT&T from 5G-ish spectrum for...we don't know exactly how long...it depends on the FCC.
DanJones 5/9/2017 | 11:52:45 AM
Re: Verizon I did wonder about SoftBank but they seem to want to use their 2.5GHz holdings first. VRZ doing this will help it block AT&T from 5G-ish spectrum for...we don't know exactly how long...it depends on the FCC.
mendyk 5/9/2017 | 11:49:15 AM
Re: Verizon Sprint ownership also has the motivation and the track record -- but this looks like something Verizon needs pretty badly.
DanJones 5/9/2017 | 11:28:48 AM
Re: Verizon Yeah, only they really have the motivation to spend so much to block AT&T.
KBode 5/8/2017 | 4:30:16 PM
Verizon CNBC seems to have confirmed that this not-so-mystery party is indeed Verizon:

 

http://www.cnbc.com/2017/05/08/unnamed-company-makes-higher-offer-against-att-for-straight-path.html
brooks7 5/8/2017 | 3:29:19 PM
Re: i think there is more to it There are plenty of WISPs out there and if you posted before...it is not recorded that you did so.

seven

 
johnnyboy101 5/8/2017 | 3:17:21 PM
i think there is more to it i posted a long time ago about straight path and how valuable there spectrum would be. There is also something very interesting going on in New jersey as we speak. There is a company called Hammer Fiber Optic Investments ( no this is not me trying to speak about about investment this is serious). This company provides the triple play package to customers, yes another cable company who really care right? Well here is the thing, Hammer already uses straight paths spectrum for there " revolutionary " wireless broadband system. Thats right no one knows about this with all of this 5g talk out here is honestly pretty crazy. Hammer already figured out how to bring fiber to the home wirelessly and uses Straight paths spectrum to do it. If you dont believe me look up the company for yourself, dont be surprised if this is next on the list for either of these companys. I could be completely wrong about this but its not my thinking. 
William1958 5/8/2017 | 10:53:57 AM
Hmmm I wonder who he is!
DanJones 5/8/2017 | 10:25:13 AM
Re: Straight Path Yah
Gabriel Brown 5/8/2017 | 10:20:58 AM
Straight Path Well that escalated quickly .gif
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