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
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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
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