May 21 Verizon Wireless said on Monday it hired
Loop Capital as a second adviser for a proposed sale of wireless
spectrum, a move seen as an attempt to help it gain regulatory
approval for its controversial plan to buy $3.9 billion of
airwaves from cable companies.
The joint venture of Verizon Communications and
Vodafone Group Plc has said it would sell some wireless
airwaves as long as the Federal Communications Commission
approves its plan to buy airwaves from cable companies including
The FCC is reviewing the cable deal, which has attracted
sharp opposition from smaller rivals such as Sprint Nextel
and T-Mobile USA.
Loop Capital, a minority-owned investment bank, will act as
co-advisor along with Stephens Inc, which was announced as an
advisor on April 18, Verizon Wireless said.
Verizon Wireless has seen a lot of interest in the assets so
far from a wide range of potential bidders, according to Chad
Crank, the head of telecoms and media at Stephens.
"We have a large group of interested parties and they range
anywhere from large telecom service providers to regional
wireline players to technology firms and others," said Crank who
declined to give more details.
Some analysts see companies such as AT&T Inc and
MetroPCS Communications as potential bidders for the
spectrum from market leader Verizon Wireless.
T-Mobile USA, a unit of Deutsche Telekom, has
said it is not interested in the spectrum Verizon Wireless wants
Sprint Nextel has said it is worried about the top two
mobile providers, Verizon Wireless and AT&T, further
consolidating their dominant positions if regulators allow them
to buy more spectrum.
Verizon Wireless said it expects both Stephens and Loop to
reach out to a wide range of potential bidders "including
minority-owned and female-owned businesses."