Verizon Communications CFO says open to selling some spectrum

Reuters News
Posted: Nov 20, 2013 6:29 AM
Verizon Communications CFO says open to selling some spectrum

LONDON (Reuters) - Verizon Communications is open to selling its 'A' block of spectrum if someone makes an offer at the right price, Chief Finance Officer Fran Shammo said on Wednesday.

Asked at a Morgan Stanley conference in Barcelona whether Verizon was still open to selling some of its spectrum, Shammo said that the group had already sold some to AT&T last year and done swaps with T-Mobile US.

"The A spectrum is out there, and if someone walks up to me with an offer, we will entertain it," he said referring to a block of spectrum known as the ‘A' block.

"This is not a fire sale though, so if we don't get the right offer, we'll deploy the spectrum in our own network."

Reuters reported on Tuesday that T-Mobile US was looking to buy wireless airwaves from larger rival Verizon Wireless to bolster its mobile network capacity for data services, according to a source familiar with the matter.

While T-Mobile has approached Verizon about buying the spectrum, the process is still in the early stages, the source said.

(Reporting by Kate Holton; editing by Leila Abboud)