Verizon Wins 'C-Block' in Spectrum Auction
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By Robert Holmes March 20, 2008
The Federal Communications Commission said Thursday that Verizon has emerged as the winner of the prime "C-block" from the agency's recent 700-megahertz spectrum auction.The C-block carried the hefty price tag of $4.74 billion and will likely be used for expansion into "4G" territory. Verizon's main competition in the secret bidding was largely believed to have been rival carrier AT&T.
"We are very pleased with our auction results," Verizon Wireless, a venture of Verizon and Vodafone (VOD - Cramer's Take - Stockpickr), said in a news release.
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