Verizon Wireless plans to pay $3.6 billion for wireless airwaves from a venture of cable companies Comcast Corp , Time Warner Cable Inc and privately held Bright House Networks.The deal, which includes the option for cable companies to resell Verizon Wireless service, comes as Verizon's biggest rival AT&T Inc is facing regulatory opposition for its proposed plan to purchase T-Mobile USA.Both Verizon Wireless and AT&T, the No. 1 and No. 2 U.S. mobile providers, are trying to improve their network capacity to support increased consumer demand for services such as mobile web browsing on devices like tablet computers.Analysts said it made sense for Verizon to take the chance to get a deal done while AT&T is tied up with efforts to seek approval for its T-Mobile USA deal but some wondered why the cable operators did not wait.
AT&T Inc. is a holding company. The Company is a provider of telecommunications services in the United States and worldwide. Shares of T traded higher by 0.28% or $0.08/share to $28.92. In the past year, the shares have traded as low as $27.20 and as high as $31.94. On average, 29024900 shares of T exchange hands on a given day and today's volume is recorded at 10073440.
Time Warner Cable Inc. is a cable operator in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC traded higher by 3.01% or $1.835/share to $62.76. In the past year, the shares have traded as low as $57.15 and as high as $80.86. On average, 2783760 shares of TWC exchange hands on a given day and today's volume is recorded at 1388447.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 1.02% or $0.35/share to $34.56. In the past year, the shares have traded as low as $27.62 and as high as $38.62. On average, 8345540 shares of TWX exchange hands on a given day and today's volume is recorded at 2200727.
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