3 Telecom Stocks Seeing Action: Verizon Explores Vodafone Bid, Sprint Brings Wireless Underground, and AT&T Tangoes With the DoJ
Verizon Wireless (NYSE:VZ): The nations largest wireless carrier is exploring a $100 billion bid to buy out the 45 percent stake that British firm Vodafone (NASDAQ:VOD) has in the company, and has hired a panel of banking professionals and legal advisors to assist in its decision. The company is pushing for a “tax efficient” way of performing the buyout, which has little concern over sparking antitrust investigations that blocked rival AT&T’s (NYSE:T) buyout of T-Mobile.
Sprint-Nextel (NYSE:S): If you’re a New York City dweller, and have often found yourself wishing you could get some service on your way to work, Sprint is coming to the rescue. The company is working to launch wireless and data connectivity throughout New York’s subway lines, having already put 30 subway stations in mid-town Manhattan online.
AT&T (NYSE:T): Reportedly, AT&T is recieving immunity from wiretapping laws in exchange for cooperation with government surveillance efforts, The Verge is reporting. The Electronic Privacy Information Center has obtained documents that reveal efforts being made by the U.S. Department of Justice to help the company (and other providers) evade wiretapping laws and allow the government to conduct surveillance on parts of their networks. The providers simply enter into agreements with the DoJ, under which they cannot be prosecuted for the offense.
Don’t Miss: David Einhorn’s Vodafone Call is Getting Louder.