AT&T Might Snap Up $3B of Verizon Assets

Quick – what better way for AT&T Inc. (T) to try to reclaim its position as the No. 1 wireless provider than to get its paws on Verizon Wireless (VZ) spectrum?

We can’t think of a better way.

And it appears AT&T is poised to do just that by taking advantage of a divestiture clause Verizon had to agree to so it could complete the Alltel Corp. takeover.

The idea certainly is a titillating one. As Verizon’s chief rival, AT&T stands to gain more than 2 million customers in 22 states, new wireless spectrum and other assets, all worth about $3 billion. For competitive providers, though, a potential swap of such high-value properties among Bell providers just looks like the same old story of behemoth against little guy.

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