3.45 GHz Auction Could Still Fall Flat, New Street Warns
The FCC’s 3.45 GHz auction could hit bids as high as $37 billion, or fail entirely if two of the three national carriers drop out, New Street’s Jonathan Chaplin told investors in a weekend report. Chaplin said providers are positioned…
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to spend at least $34 billion, with AT&T likely getting 40 MHz of spectrum, T-Mobile 31 and Dish Network 19, while Verizon likely takes a pass, he said. “The number of bidders is the biggest variable” and if Verizon does make a play that would drive up totals, he said. Balance sheets are “stretched,” but AT&T has “built resources following the media divestiture and dividend cut” and other providers have also added to resources since the C-band auction, he said.