Connect
To Top

Verizon’s Shammo: Smaller Carriers Stop Trying To Get Us To Buy You



Verizon Wireless has tried to stay out of the mud-slinging associated with the pending AT&T T-Mobile merger.  There comments have basically been the same since the beginning (back in March).  Verizon says that they aren’t in favor or against the merger however if it does go through make sure it doesn’t affect Verizon.

Verizon Communication’s CFO Fran Shammo, speaking at the Oppenheimer Tech Conference, said “We believe the industry does need some consolidation, but it has to be consolidation under the right terms,” he said. “If it goes through, we need to make sure it goes through without regulation.”

More after the break

Shammo went on to say that the smaller carriers like MetroPCS, Leap Wireless and even Sprint, need to become stronger and gain more scale. He is hoping that the smaller carriers can come up with their own consolidation solutions rather than having Verizon acquire them.

Over the years Verizon Wireless has evolved from several “smaller carriers”. Verizon Wireless can be traced back to the bigger players Bell Atlantic Mobile, and Nynex Mobile. Also in Verizon Wireless’ beginning stages Airtouch Communications, Primeco and GTE were all acquired.  The AirTouch/Primeco deal netted Verizon Communications current CEO Lowell McAdam.

Verizon’s most recent acquisition was Alltel.  Verizon Wireless is hoping that if the AT&T/T-Mobile merger goes through that the FCC, FTC or DOJ doesn’t add in regulations that would prevent Verizon Wireless from acquiring companies in the future, despite the fact that Shamo rather flippantly suggested that today’s current smaller carriers shouldn’t come to Verizon looking to get acquired.

source: Fierce

More in ATT