Verizon is focused on the need to “build...
Verizon is focused on the need to “build cash on the balance sheet” to prepare for the FCC’s AWS-3 auction, Chief Financial Officer Fran Shammo said Tuesday during a call with investors. Shammo said Verizon for obvious reasons would not…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
have much to say about how much it plans to spend in the AWS-3 auction, scheduled to get underway Nov. 13. Shammo also declined to say much at all about the TV incentive auction, saying the rules haven’t been finalized. “It’s hard for us to sit here and make a comment on something that has not been finalized,” he said. Verizon is aggressively managing the debt it carries, Shammo said. “You have seen us be very proactive in the marketplace, taking the opportunity of the low interest rate market, repositioning the debt that we borrowed at the close and repositioning our towers so we are strategically trying to push out the long-term debt longer at a more fixed, lower rate than we had,” he said. Verizon reported second quarter earnings Tuesday (http://vz.to/1nywpLS). The carrier reported $1.01 in earnings per share in Q2 on operating revenue of $31.5 billion.