It looks like Verizon accidentally bought $1.5M worth of 2.5GHz spectrum
"This 2.5GHz spectrum will be useless to Verizon; the company actually tried to dump all of their bids, but got stuck as the final bidder for the licenses they won," wrote the financial analysts at New Street Research in a note to investors.
https://www.lightreading.com/5g/it-looks-like-verizon-accidentally-bought-$15m-worth-of-25ghz-spectrum/d/d-id/780140
This will be swept under the rug just like so many other costly blunders at VZ.
Compared to the 50 billion they spent on cband in another auction it seems like nothing at all.
Hans is like the kid in the candy store with a few shiny nickels burning a ho-e in his pocket.
Company is going down ,will probably be the next ENRON
They were probably trying to bid up the price, but had no intention of buying. TOM called our bluff.
Put this in the closet with Yahoo, AOL, Go90, Huffington Post, etc … future BJN. At least Retail and Indirect got a few years to slam Hum.
https://www.lightreading.com/5g/the-quiet-brilliance-of-t-mobiles-5g-spectrum-strategy/a/d-id/779589
Why are Hans and the senior management team still here? What an embarrassment.
They should have lawyered up! Probably could have gotten the bids retracted with the requisite legal resources. Talk about buyers remorse!
Buy it, put it in inventory. May use it someday, if not, sell or regift it at pennies on the dollar. Wash, rinse, repeat, over and over again. Gotta love this place!
someone should have stuck to trading the dog coin and bitcorns
Just more of the same! Seen it time and time again with VZ. They buy stuff just in case they need it someday. The problem is that someday never comes. Waste of cash!
The Incompetence of the company just amazes daily, one wrong move after another. Heads need to roll in upper management for those who make these decisions, but the way this company works I bet they get a promotion out of it. :(