The Strange Tale of Straight Path
Just weeks ago, Straight Path Communications was an obscure telecommunications company with a $400 million market capitalization. Today, it has a equity valuation of about $3 billion, and it's only climbing higher. What happened? A bidding war between ATaT and Verizon, according to people familiar with the matter. Bloomberg Gadfly columnist Tara Lachapelle and Bloomberg wireless reporter Scott Moritz explain why Verizon is forcing ATaT to pay top dollar for a little-known owner of wireless licenses and airwaves.
