3 Telecom Stocks Seeing Action: Verizon’s Z30 Contract, Vodafone to Buy India Unit, AT&T’s FCC Deal
Verizon Communications (NYSE:VZ): Verizon has won the exclusive contract for BlackBerry’s (NASDAQ:BBRY) new Z30 smartphone, a larger version of the touchscreen Z10. The device will hit stores sometime in November with a sticker price of $200. While it could be a boon for Verizon, CNET notes that “it appears as if Verizon’s ‘exclusive’ arrangement is less about having locked up a deal with BlackBerry, and more about the lack of interest from rival carriers.”
Vodafone Group (NASDAQ:VOD): Vodafone has had a significant stake in Indian carrier, Vodafone India, since 2007, but the Indian government has since relaxed its rules on foreign holdings, which allows companies to now own 100 percent of their Indian businesses. The rule change spurred Vodafone to announce Tuesday that it is seeking approval to fully own the India unit in a move that will cost $1.65 billion; currently, Vodafone directly owns 64.38 percent of Vodafone India.
AT&T Inc. (NYSE:T): AT&T is part of a Federal Communication Commission access deal that strives to help smaller wireless providers like rural and regional carriers gain access to better devices and technology in an agreement that was officially adopted Monday. AT&T conceded to “interoperability” between its airwaves and those of nearby frequencies, a move that provides manufacturers with the incentives necessary to make phones usable by both AT&T users and those of smaller providers.