As part of the plan to make back some cash after the last auction Verizon sold off a few assets and customers and debt. The interesting thing was the idea that Verizon would acquire DISH.
Verizon spent $10.4 billion in the AWS-3 spectrum auction that ended last week. Although Verizon has denied interest, some analysts speculate Verizon could acquire Dish Network (NASDAQ:DISH) or lease airwaves from the satellite TV broadcaster.
The wireless giant said late Thursday it was selling wireline assets in three states toFrontier Communications for $10.54 billion and leasing rights to its cell towers to American Tower for $5 billion. Verizon said it would use $5 billion of the after-tax proceeds to buy back shares and devote the rest, roughly $6.8 billion, to paying off debt related to its spectrum purchases in the government’s recent auction.
With so much talk nowadays involving mergers, acquisitions and buyouts, it's no wonder companies are playing a shell game trying to restructure and re-align to make profits. These competition wars are making friends out of enemies in corporate America.