AT&T Inc. (NYSE:T): AT&T has officially completed its purchase of spectrum from Verizon Wireless for $1.9 billion and will use the new assets for its 4G LTE network. The carrier expects to complete the deployment of the infrastructure by the summer of next year. The new block of spectrum covers 42 million people in 18 states. In addition to the $1.9 billion, Verizon also received spectrum in California, Phoenix, and Portland.
Verizon Wireless (NYSE:VZ): Verizon has commenced its $49 billion bond sale to help finance its $130 billion buyout for the Verizon Wireless joint venture. The sale crushes the record set by Apple (NASDAQ:AAPL) earlier this year at $17 billion. Seeking Alpha explains that it’s an eight-part offering, with $4.25 billion in 3-year notes launching at a spread of 165 bps, all the way to $15 billion in 30-year bonds launching at 265 bps.
Vodafone Group plc (NASDAQ:VOD): Vodafone reportedly has a lot of ground to make up with its shareholders for its Kabel Deutschland bid, as Kabel investors had tendered 19.88 percent of shares, well below the 75 percent minimum requirement that Vodafone has set for the deal to go through. The investors — namely Paul Singer, Kabel’s largest — are pushing Vodafone to increase its offer price, though the British telco is refusing to do so.