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AT&T Eyes More 5G Spectrum with Straight Path Buy

AT&T Eyes More 5G Spectrum with Straight Path Buy

AT&T Eyes More 5G Spectrum with Straight Path Buy

Straight Path Communications Inc (NYSEMKT:STRP) - a small-cap company that collects assets including licenses for 5G spectrum, as well as intellectual property - is flying high on a buyout from AT&T Inc.

AT&T's deal is actually worth $1.6 billion, as it includes the FCC settlement amount, among other items. The acquisition is expected to close this year and must be approved by the FCC.

The price is expensive, with AT&T agreeing to pay $95.63 per share, a premium of more than triple Straight Path's Friday close.

For all intents and purposes, it looks like AT&T is going to own a majority of 5G wireless connections in the US.

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"The merger of AT&T and Straight Path Communications provides Straight Path shareholders with a compelling return since Straight Path's spin-off to become an independent public company in 2013, with an initial price per share of $6.40 on July 31, 2013".

It's worth noting that this isn't the first company AT&T has bought to reel in 5G spectrum. Big players have already made major inroads in securing rights on it, with Verizon's $1.8bn takeover of XO Communications in February being one such example.

The FCC fined Straight Path $100 million in January for failure to deploy wireless services as required by the FCC's licensing policy.

The International Telecommunications Union has said theoretical peak speeds for standards-based 5G in the mmWave band can eventually reach up to 10 Gbps uploads, and up to 20 Gbps downloads, AT&T said. But there's much more to AT&T Inc.'s (NYSE:T) deal to buy Straight Path Communications Inc. This translates to 620MHz of the spectrum across the top 30 markets in the USA, with 175 million PoPs across the country. The AT&T Straight Path purchase will bring those licenses - in the 39 GHz and 28 GHz bands - into the AT&T fold. Straight Path shareholders will receive $1.25 billion.

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