Verizon to Nix App Store and 4 Telecom Titans Attracting Interest

Sprint Nextel Corp. (NYSE:S): Wednesday, Goldman Sachs Group removed its rating and price target on Sprint Nextel Corporation in a report. Goldman Sachs wrote, “The Americas Investment Review Committee has determined that the ratings and price target for Sprint Nextel Corp. (NYSE:S) should be removed. Goldman Sachs is acting as a financial advisor in connection with a transaction that is fundamental to the reasonable analysis of the rating and price target for this stock. This ‘Not Rated’ status will continue until such time as sufficient information is available, and/or contingencies appear resolved, to allow such analysis. Earnings estimates during this period will be made without regard to the proposed transaction.”

Verizon Communications Inc. (NYSE:VZ) has intentions to shut down its app store beginning in January, and the company will have all Verizon Apps application remotely removed from its devices by March 27, 2013. For the most part, the app store was a throwback to application portals and stores that showed dominance prior to Apple’s (NASDAQ:AAPL) iPhone and App Store.

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Vodafone Group plc (NASDAQ:VOD) and EE customers should have the ability to use Virgin Media’s London Underground Wi-Fi network for free beginning in early 2013. Together the two companies signed up as wholesale partners for Virgin Media’s Wi-Fi service, and this indicates that customers using the networks should keep to gaining free network access when Virgin Media begins to charge the public for it next year.

MetroPCS Communications, Inc. (NYSE:PCS) agreed to merge with its more prominent rival, T-Mobile USA, in October, and the company renewed its previous attempt partner with its rival Leap Wireless International. Bloomberg reports that MetroPCS revealed that there were discussions regarding a potential merger with a third party in a regulatory filing that was dated 16 November, and a person close to the situation has now stated that htis party is Leap.

Level 3 Communications Inc. (NASDAQ:LVLT) announced that Serco Group chose Level 3 to provide converged IP network services for data, voice, and video applications.

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