EchoStar-Verizon Deal Buzz Drives Stock Up as 5G Spectrum Talks Heat Up
Rumours are swirling around a potential deal between EchoStar and Verizon Communications. While neither party has confirmed, speculation has driven EchoStar's stock up by nearly 4%. The buzz centres around a possible sale of EchoStar's AWS-3 frequency licenses, crucial for 5G transmission.
EchoStar, operator of the Boost Mobile brand, has been actively selling spectrum. Recent deals include those with SpaceX and AT&T. Now, talks are underway with Verizon. The discussions focus on EchoStar's AWS-3 spectrum licenses, which the company values at $9.8 billion.
EchoStar's CEO Hamid Akhavan has previously stated the company is abandoning plans to build a large wireless network. Instead, it seems EchoStar is exploring other options for its valuable spectrum. Verizon, on the other hand, has not commented on the potential acquisition.
If the deal goes through, it could significantly boost Verizon's 5G capabilities. However, both EchoStar and Verizon remain tight-lipped about the potential sale. Investors, meanwhile, are watching closely, with EchoStar's stock reacting positively to the rumours.
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