3 Telecom Stocks Seeing Action: Verizon Signs With J.Lo, California Approves Softbank’s Sprint Bid, and AT&T Adds New Fees

Verizon Wireless (NYSE:VZ): Verizon has a new face to put on its brand: Jennifer Lopez, the star singer and actress, will be opening a chain of 15 wireless stores under her brand, Viva Movil, which will sell Verizon phones and plans to Latinos. The stores will have bilingual staff and provide a “culturally relevant shopping experience,” Viva Movil said.

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Sprint-Nextel (NYSE:S): Softbank has cleared a major hurdle in its bid for Sprint, as it has received approval from a California commission to move ahead with its $20.1 billion offer for a majority stake in the third-largest U.S. carrier. The approval indicates that Softbank has fulfilled its necessary quota of state regulatory approvals for its proposed transaction, and now only needs the nod from the FCC.

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AT&T (NYSE:T): The second largest American carrier has imposed a new administrative fee on its users, a monthly charge of $0.61 that began on May 1st. Annually, it could be worth about $500 million to the company. However, not everyone is impressed: ”Below-the-line fees are nothing more than a way for carriers to stealthily increase their prices,” said Derek Turner, research director at Free Press, a public interest group. “AT&T’s administrative fees are no different than the hundreds of other components that go into the cost of doing business,” he said.

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