The next head of Verizon Communications (VZ.N) expects U.S. regulators to approve rival AT&T Inc's (T.N) proposed $39 billion purchase of T-Mobile USA due to the company's need for more wireless airwaves. "I'd say the merger will probably go through. It's a merger AT&T probably had to do," Verizon Chief Operating Officer Lowell McAdam said in a webcast of the Fortune Brainstorm Tech conference. McAdam, who is slated to become chief executive of Verizon by year end, said the deal made sense for AT&T, which needs more wireless airwaves, and that the only surprising aspect was that it did not happen sooner. In contrast, Sprint Nextel (S.N), the No. 3 U.S. mobile service, has been loudly urging U.S. regulators to reject the AT&T/ T-Mobile USA deal for fear of damage to competition.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ traded higher by 0.76% or $0.28/share to $37.25. In the past year, the shares have traded as low as $26.41 and as high as $38.95. On average, 13630900 shares of VZ exchange hands on a given day and today's volume is recorded at 5352902.
AT&T Inc. is a holding company. The Company is a provider of telecommunications services in the United States and worldwide. Shares of T fell by 0.48% or $-0.145/share to $30.18. In the past year, the shares have traded as low as $24.50 and as high as $31.94. On average, 22166200 shares of T exchange hands on a given day and today's volume is recorded at 11782790.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S fell by 0.76% or $-0.04/share to $5.22. In the past year, the shares have traded as low as $3.70 and as high as $6.45. On average, 51785800 shares of S exchange hands on a given day and today's volume is recorded at 13227933.
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