T-Mobile Looking at Verizon 700MHz Spectrum
T-Mobile is weighing a bid on 700MHz A Block spectrum owned by Verizon Wireless. According to an unnamed source cited by Reuters, T-Mobile and Verizon have held preliminary discussions about the transaction, but nothing is yet formal. T-Mobile is seeking more airwaves to bolster its own LTE network, and the spectrum in question is not being used by Verizon Wireless. Verizon attempted to sell the same set of airwaves last year, but did not receive offers it deemed acceptable. T-Mobile has recently sold stock and bonds in order to raise funds for spectrum purchases. Reuters believes any sale involving Verizon's 700MHz spectrum would top $3 billion. Any such deal between T-Mobile and Verizon would need to meet regulatory approval.