Market Overview

Verizon Declines To Comment On Straight Path

Verizon Declines To Comment On Straight Path

Following Monday rumors that Verizon Communications Inc. (NYSE: VZ) could attempt to outbid AT&T Inc. (NYSE: T) to acquire Straight Path Communications Inc (NYSE: STRP), a Verizon spokesperson told Benzinga the company was “not commenting” on the particular issue.

On Thursday, Straight Path was notified by an unidentified third party, one that issued a merger bid prior to the Straight Path–AT&T agreement, that the bidder maintained interest in a deal and was considering extending an offer more valuable than AT&T’s. Some speculated Verizon to be the unnamed disrupter.

Straight Path shares have spiked 19.6 percent since the rumor began.

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