T-Mobile US is looking to purchase wireless airwaves from larger rival Verizon Wireless to bolster its mobile network capacity for data services, a source familiar with the matter said on Tuesday.While T-Mobile has approached Verizon about buying the spectrum, the process is still in the early stages, according to the source, who asked not to be named. The source was not authorized to discuss the matter.T-Mobile, the No. 4 U.S. mobile service provider, might have to pay as much as $3 billion for the airwaves, which are not being used by Verizon, according to one analyst estimate. The airwaves would give T-Mobile additional network capacity to help it catch up with its bigger rivals in delivering high-speed wireless services.T-Mobile failed to comment on Tuesday. Representatives for Verizon Wireless, which is owned by Verizon Communications Inc and Vodafone Group Plc, were not immediately available for comment.
Shares of TMUS fell by 0.15% or $-0.04/share to $25.95. In the past year, the shares have traded as low as $16.01 and as high as $29.50. On average, 4120480 shares of TMUS exchange hands on a given day and today's volume is recorded at 6694479.
Vodafone Group Plc (Vodafone) is a mobile communications company. Shares of VOD fell by 0.88% or $-0.3284/share to $37.09. In the past year, the shares have traded as low as $24.42 and as high as $37.90. On average, 13708500 shares of VOD exchange hands on a given day and today's volume is recorded at 5215827.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ fell by 0.07% or $-0.0356/share to $50.72. In the past year, the shares have traded as low as $41.50 and as high as $54.31. On average, 14527300 shares of VZ exchange hands on a given day and today's volume is recorded at 5398506.
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