AT&T PARTNERS With Square and 4 Telecom Titans Attracting Interest

AT&T, Inc. (NYSE:T): After announcing the Starbucks deal, and a new pricing structure for small businesses, mobile payments company Square is debuting a new retail partnership—AT&T. Square card readers will be available in more than 1,000 AT&T company owned retail stores, says the company. The shares traded up $0.40 (1.09%) recently at $37.04.

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Sprint Nextel Corp. (NYSE:S): Today, the company announced that it launched LTE service in four new markets spanning four states. This brings the total amount of major markets to six. Sprint’s new 4G technology arrives in Baltimore, which is the location where the carrier first deployed its WiMax (Xohm) service almost four years ago. Acknowledging that its eggs are in the wrong basket, Sprint has been forced to begin anew with an LTE build-out. On top of Baltimore, the carrier now offers LTE in Atlanta, Dallas, Houston, Kansas City, Mo., and San Antonio. The shares traded up $0.02 (0.41%) recently at $4.87.

Verizon Communications Inc. (NYSE:VZ) received the approval from the Federal Communications Commission (FCC) for the purchase of $3.9 wireless spectrum from a group of cable companies. Verizon Wireless is a joint venture between Verizon Communications Inc. and Vodafone Group Plc (NASDAQ:VOD). The shares traded up $0.64 (1.50%) recently at $43.31.

Vodafone Group plc (NASDAQ:VOD) non-executive Chairman Analjit Singh was summoned by the Enforcement Directorate concerning an alleged foreign exchange violations case that has been probed by it against the telecom major. Official sources stated that the ED has asked either Singh or his authorised signatory to be present before its officials on August 31 along with documents concerning the finances in the personal and official capacity. The shares traded up $0.01 (0.04%) recently at $29.29.

Leap Wireless International Inc. (NASDAQ:LEAP) completed the previously announced transactions for the sell of Verizon Wireless (VZ, VOD) excess PCS and AWS spectrum in numerous markets spanning the U.S. and to acquire from Verizon Wireless 12 MHz of 700 MHz A block spectrum in Chicago. With the resolution of interference issues related to 700 MHz A block licenses, the additional spectrum Leap will supplement the 10 MHz of spectrum Leap currently owning and operating in Chicago. “These transactions generated net cash proceeds of more than $120M that we plan to use to support our ongoing deployment of next-generation LTE network technology,” stated Doug Hutcheson, Leap’s president and chief executive officer. “We expect to offer LTE services to at least two-thirds of our current network footprint over the next two to three years.” The shares traded up $0.09 (1.53%) recently at $5.64.

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