US wireless operator Verizon has revealed 36 entities are interested in buying its lower 700MHz A and B block spectrum licences.
But the company also confirmed that any sale is contingent on the regulator approving their US$3.9bn acquisition of…
US wireless operator Verizon has revealed 36 entities are interested in buying its lower 700MHz A and B block spectrum licences.
But the company also confirmed that any sale is contingent on the regulator approving their US$3.9bn acquisition of Advanced Wireless Spectrum (AWS) from cablecos.
Verizon announced the information in a filing with the Federal Communications Commission (FCC), dated 22 May, in response to a series of pointed questions asked by the regulator in a letter sent to the operator last week.
The operator revealed that it distributed an offering memorandum to 36 entities which have executed non-disclosure agreements via its financial advisers – Stephens Inc and Loop Capital – that are managing the sale process.
Key among the queries made by the FCC was whether the company would abandon its proposed 700MHz spectrum sale if the regulator did not approve all of the company’s planned AWS licence purchases.
Verizon shot back in its reply saying that the sale was “expressly contingent” on the FCC consenting to “substantially all the AWS licenses”. It said if the AWS licences are not granted it would reassess all available options to meet its customers’ spectrum needs.