April 4, 2008 / 9:52 AM / 12 years ago

Verizon to use spectrum for high-speed services: report

The sign for the Verizon Wireless store is seen in Lakewood, Colorado September 11, 2007. REUTERS/Rick Wilking

NEW YORK (Reuters) - Verizon Wireless will use the airwaves it acquired in a recent government auction to build faster wireless broadband networks to deliver high-speed services, the Wall Street Journal said on its Web site.

Verizon Communications Inc, which jointly owns Verizon Wireless with Vodafone Group Plc, is scheduled to hold a webcast later on Friday to discuss its plans for the spectrum’s use.

AT&T, which acquired about $6.64 billion worth of additional airwaves in the auction, has already said it will use the spectrum to move into the next generation of wireless services.

According to the companies, the “so-called fourth-generation networks” won’t be ready for at least three years, the Journal reported.

Neither company was immediately available for comment.

Reporting by Aarthi Sivaraman; Editing by David Holmes

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