Private Equity Firms Looking to Scoop Up Verizon Assets
Verizon Communications is in the process of divesting a number of wireless assets as part of its deal to acquire Alltel. According to Reuters' sources, private equity firms and wireless firms alike have bid on the assets. Blackstone Group made its own bid, and Carlyle Group and Kohlberg Kravis Roberts & Co. made a joint bid. AT&T has 'expressed interest' and U.S. Cellular also made a bid for Verizon's assets. The auction will take place over several months and include multiple rounds. Over 30 companies are participating.
FCC Names Final Set of Reverse Auction Bidders
The FCC today published a list of the 62 bidders who've made upfront payments and qualified to bid in the reverse auction for low-band TV spectrum. As expected, the list contains familiar names, such as AT&T, T-Mobile, U.S.
Uber Attempting to Hail HERE Maps with $3B Bid
Uber has submitted a bid to purchase HERE Maps from Nokia for $3 billion, reports the New York Times. The bid is one of several and may not result in a sale, cautioned the Times' unnamed sources.
Incentive Auction Fails to Attract Big Spenders
The FCC's 600MHz incentive auction is proceeding slowly and may need to be reset. After 27 rounds of bidding, the total amount bid has reached only $23 billion, far short of the $88.4 billion clearing cost set during the reverse part of the auction earlier this year.
Yahoo to Consider 'Strategic Alternatives' for Internet Biz
Yahoo has announced plans to explore strategic options for its internet business, which has struggled to turn a profit in recent years. The company said it plans to improve consumer and advertiser product quality while also increasing the number of daily users.