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
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
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.