Verizon Postpones Wind Mobile & Mobilicity Purchases and 2 Other Dow Movers
Verizon Communications Inc. (NYSE:VZ): Current price $47.56
It is said that Verizon has postponed its purchases of the Canadian telecom providers Wind Mobile and Mobilicity as it awaits the government auction in Canada for wireless licenses in January before venturing into the Canadian market. Prior to this, Verizon proposed to buy Wind Mobile for $700 million and was said to have entered a non-disclosure agreement with Mobility for a buyout as well. Reports claim that the firm is now concentrating on participating in the upcoming auction of the 700-megahertz band spectrum and, if Verizon wins, it might rethink its purchase plans or go ahead in 2014.