AT&T Joins T-Mobile In Seeking Verizon's 700MHz Spectrum
AT&T is mulling a bid for Verizon's unused 700MHz A Block spectrum, reports the Wall Street Journal. The A Block would complement AT&T's own 700MHz spectrum holdings and could be used to bolster its LTE network. Last month, Reuters reported that T-Mobile is interested in the same parcel of spectrum. Verizon CFO Fran Shammo confirmed that it would sell its A Block spectrum for the right amount. The company paid $2.4 billion for the airwaves and the Journal believes Verizon will ask at least $2.75 billion to sell them to a competitor. With two companies pursuing the spectrum, it's more likely that Verizon will sell it.