Verizon Likely Big Winner in 28 GHz Auction, Wells Fargo Says
Verizon is likely to be “the big winner” in the 28 GHz auction (see 1901220041), which is nearing an end, Wells Fargo’s Jennifer Fritzsche said in a Wednesday note to investors. Verizon is likely to further its big lead over…
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competitors in high-band holdings, she said: It has five times as much as AT&T and 11 times that of T-Mobile. AT&T likely will be a major player in the upcoming 24 GHz auction, she said. There, “the FCC is essentially offering nationwide spectrum with larger swaths of markets,” Fritzsche said. “This auction should bring in more interest from the carriers … as it offers more of a clean slate of size vs. more ‘fill in’ opportunities.” The pricing in the auction is about .0111 cent per MHz/POP, a “slight discount” to the .017 cent paid by Verizon for Straight Path in 2017, but still above expectations, Fritzsche said.