Verizon And AT&T Clash Over $14B FirstNet Spectrum Proposal
Portfolio Pulse from Shivani Kumaresan
Verizon Communications Inc (NYSE:VZ) and AT&T Inc (NYSE:T) are in conflict over a $14 billion FirstNet spectrum proposal. AT&T, which holds a 25-year contract to manage FirstNet, is pushing for more wireless frequencies to be allocated to the network, while Verizon argues this would unfairly benefit AT&T. The FCC will decide on the allocation.
July 15, 2024 | 5:50 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
AT&T is pushing for more wireless frequencies to be allocated to FirstNet, which it manages under a 25-year contract. This could provide a significant advantage to AT&T if approved.
If the FCC approves the proposal, AT&T could gain a significant advantage by using the additional spectrum for both public safety and commercial purposes. This would likely boost AT&T's market position and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Verizon opposes AT&T's proposal to allocate more wireless frequencies to FirstNet, arguing it would unfairly benefit AT&T. Verizon's stock is trading lower by 1.17%.
Verizon's opposition to the proposal indicates a potential competitive disadvantage if the FCC approves it. This could negatively impact Verizon's market position and stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100