Sources tell the New York Post that Verizon Wireless (VZ) and Dish Network (DISH) have held talks over a possible purchase of DISH’s wireless spectrum. The report sent DISH shares up more than 3% in Friday midday trading.
The report comes on the heels of earlier rumors that Verizon might make a bid for DISH, an idea that VZ CEO Lowell McAdam dismissed at a recent investor conference. According to the Post, VZ is interested in acquiring wireless spectrum owned by DISH to enhance its wireless data service in urban areas. A deal to buy the DISH spectrum could be worth $17 billion.
Under federal regulations, DISH must connect 40% of the wireless spectrum is owns by 2017 or surrender it.
VZ shares sank modestly in Friday midday trading.
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