by Christopher Freeburn | April 3, 2013 10:25 am
On Tuesday, Verizon Wireless, the U.S. joint venture between Verizon Communications (NYSE:VZ) and Britain’s Vodafone (NASDAQ:VOD), said that it had purchased Mohave Wireless, a Arizona-based regional wireless carrier.
Verizon acquired Mohave from Frontier Communications (NYSE:FTR) and Rio Virgin. Terms of the acquisition were not disclosed. Mohave’s network covers an area with a total population of just 200,000., SlashGear noted.
Mohave customers will be migrated to Verizon’s regional wireless network once it is finished early next year.
Earlier this week, rumors surfaced that Verizon will partner with U.S. rival wireless carrier AT&T (NYSE:T) to purchase Vodafone in a deal worth as much as $245 billion. Sources say that under the terms of that deal, Verizon would acquire Vodafone’s share of Verizon Wireless, while AT&T would purchase Vodafone’s international assets.
Shares of Verizon in dipped slightly in Wednesday morning trading.
Source URL: http://investorplace.com/2013/04/verizon-buys-rural-carrier-mohave-wireless/
Short URL: http://invstplc.com/1nGxv69
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.