Verizon unlikely to bid now for Sprint, sources say
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Verizon Communications has no imminent plans to bid for Sprint, people familiar with the situation said Tuesday, lifting a potential obstacle to Sprint&#39;s bid for Nextel Communications.
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Sprint (FON:NYSE - news - research) and Nextel (NXTL:Nasdaq - news - research) confirmed a $35 billion merger Wednesday morning, going public with their definitive agreement despite reports that Verizon (VZ:NYSE - news - research) continues to weigh its
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A. Sprint and Nextel are projecting that it&#39;ll happen in the second quarter next year. They don&#39;t expect it to take longer than the eight months needed to gain approval of Cingular Wireless&#39; purchase of AT&amp;T Wireless.
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Verizon Communications Inc. has eyed a potential acquisition of Sprint Corp. (FON.N: Quote, Profile, Research) , but has no imminent plans to make a bid, people familiar with the situation said on Tuesday.
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Apple is unlikely to want to bid in an upcoming wireless spectrum auction, analysts say.
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AT&amp;T and Verizon Wireless want to go up against other current mobile operators and some possible future competitors, including Google, in next month&#39;s&#160;auction for 700MHz wireless spectrum&#160;around the U.S.The U.S. Federal Communications Commission on Tuesday released lists of accepted and incomplete applications for the auction, in which it will sell licenses to frequencies that are set to be vacated by analog TV stations. It has accepted 96 applications and reported 170 as incomplete. The latter need to be completed by Jan. 4.AT&amp;T and Verizon are not surprise entrants but are the country&#39;s biggest mobile operators. If either carrier won a portion of the spectrum that has been designated for use by any device and any service, it would have to open up its network more than any big U.S. operator ever has. Verizon has already unveiled part of a plan to further open its network.They were on the list of incomplete applications, along with smaller mobile operators Alltel and MetroPCS. Cable operator Cox Communications, an archrival of the telecommunications giants, is also preparing an application. And cellular technology giant Qualcomm, which is already building a mobile entertainment network on vacated TV channels, is also gearing up to bid. Would-be bidders with incomplete applications have until Jan. 4 to complete their paperwork.Google earlier this year&#160;offered to participate in the auction&#160;in return for the FCC imposing open-network requirements. The booming Internet company&#39;s involvement could drive up bids all around, helping the government reap its hoped-for $10 billion payday for the spectrum.&#160;Google&#39;s application&#160;has already been accepted, the FCC said Tuesday. So has that of Towerstream, a wireless broadband provider to businesses.One surprise applicant yet to complete its papers is oil giant Chevron.Participation by Chevron in the auction comes &#8220;out of the blue,&#8221; said analyst Jack Gold of J. Gold Associates. However, oil companies and utilities are big wireless users, so he can see why Chevron might be interested.Chevron, like Google, is unlikely to actually build a network, though, he said. &#8220;I can see them potentially winning but then becoming landlords, renting it out,&#8221; he said. For both companies, that decision wouldn&#8217;t be based on the cost of building a network but on the experience required: Neither company has any history of constructing and operating a wireless network, a complicated undertaking.Also Tuesday, the agency extended the Dec. 28 deadline for upfront payments in the auction to Jan. 4 and pushed back a mock auction until Jan. 22. The auction itself is set to begin Jan. 24.Nancy Gohring, in Seattle, contributed to this report.
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South Korea's SK Telecom denied reports that it is preparing a takeover bid for Sprint Nextel.
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Vodafone Group has denied a Monday report by the Financial Times that it was considering buying Verizon Communications in a huge $160 billion deal.
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Sprint is in talks with a number of cable television operators to offer shared mobile phone services, but said key details had yet to be agreed.
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Qwest Communications may not be immediately affected by a Sprint-Nextel merger, but its options could become more limited. At one time, Qwest and Sprint were viewed as possible merger partners.
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A Sprint-Nextel merger could be announced soon. Will a deal be bad news for consumers and investors? NEW YORK (CNN/Money) - And then there were four?
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British-based mobile phone group Vodafone  said on Monday it had no plans to bid for U.S. group Verizon Communications Inc , denying a media report.
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Vodafone Group, the world&#39;s largest mobile-phone operator, said Tuesday it&#39;s not in talks with partner Verizon Communications to bid for Sprint Corp.
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Vodafone Group shares fell on Tuesday as a Wall Street Journal report that its US partner Verizon was weighing a $40 billion-plus bid for Sprint revived fears it would be drawn into its second bid battle of the year.
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Verizon Communications Inc.&#39;s wireless partner on Tuesday distanced itself from discussions of a potential bid for Sprint Corp.
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LONDON/NEW YORK  - British wireless telecommunications company Vodafone Group Plc  said on Monday it is not planning to bid for Verizon Communications Inc. , responding to a report it was considering a $160 billion offer.
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Wall Street was abuzz Friday over a potential merger between Sprint and Nextel, though the companies declined to comment on a slew of news reports that they are negotiating to combine to create a celluar provider that would almost rival Cingular Wireless and Verizon Wireless in size.