DISH, VZ: Dish Network Stock Pops on Verizon Buzz

Dish faces a regulatory deadline regarding the spectrum

   

DISH, VZ: Dish Network Stock Pops on Verizon Buzz

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.

dish network185 DISH, VZ: Dish Network Stock Pops on Verizon BuzzThe 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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Article printed from InvestorPlace Media, http://investorplace.com/2014/06/dish-vz-dish-network-stock-pops-verizon-buzz/.

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