Verizon wins bidding war, gets Straight Path for USD 3 bln

Thursday 11 May 2017 | 14:15 CET | News
Straight Path has accepted the USD 184 per share bid made by Verizon Communications earlier this month as an unnamed bidder, which values the company at USD 3.1 billion. The all-stock transaction is intended to qualify as a tax-free reorganisation. Verizon will pay the termination fee to AT&T of USD 38 million. The acquisition has been approved by the board of directors of both Straight Path and Verizon and should close within nine months, subject to FCC review.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: General
Companies: FCC / Verizon Communications
Countries: United States
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


FCC starts auction of 37, 39 GHz band spectrum for 5G services

Published 11 Dec 2019 09:34 CET | United States
The US Federal Communications Commission has kicked off a new auction of mmWave spectrum for 5G services. Bidding began 10 ...

FCC approves terms for mmWave 5G auction in 2019

Published 12 Dec 2018 17:14 CET | United States
The FCC has approved plans to release mmWave spectrum for 5G services in an auction in 2019. The order covers the 37 GHz, 39 GHz ...

Verizon pays USD 600 mln penalty to FCC for Straight Path licence violations

Published 01 Mar 2018 10:58 CET | United States
Verizon has paid a fine of USD 600 million for the acquired company Straight Path Communications to the Federal Communications ...

Verizon returns to mobile revenue growth in Q4 after adding 1.2 mln postpaid subs

Published 23 Jan 2018 14:20 CET | United States
Verizon reported a strong fourth quarter, with a net 1.2 million retail postpaid subscribers added and its first growth in mobile ...

Verizon maintains growth in mobile market with 603,000 postpaid adds in Q3

Published 19 Oct 2017 15:00 CET | United States
Verizon maintained its momentum in the mobile market in the second quarter, with a net 603,000 retail postpaid subscribers added. ...

Verizon buys Wow's Chicago fibre network for USD 225 mln

Published 02 Aug 2017 09:46 CET | United States
Verizon Communications has bought the fibre-optic network assets of WideOpenWest (Wow!) in the Chicago area for USD 225 million. ...

Verizon bounces back in Q2 with 614,000 postpaid customers added

Published 27 Jul 2017 13:52 CET | United States
Verizon bounced back in the mobile market in Q2, recovering from customers losses in the first quarter, after the launch of its ...

Straight Path gets new bid, valuing firm at over USD 3 bln

Published 08 May 2017 16:36 CET | United States
A multi-national telecom company has made a new bid for Straight Path, at USD 184 per share, to be paid all in stock. The bid ...

AT&T acquires Straight Path, with spectrum, for USD 1.25 bln

Published 10 Apr 2017 19:34 CET | United States
AT&T has agreed to acquire Straight Path Communications for USD 1.25 billion worth of stock, in a deal that will boost the ...

FCC fines Straight Path for violating license requirements

Published 12 Jan 2017 19:21 CET | United States
The Federal Communications Commission has imposed a fine of over USD 100 million for Straight Path Communications for failing to ...