Market Crash's Impact On Auction 73

Recent stock market drop could carry huge implications for the wireless spectrum auction due to start Jan. 24. Because bidders Google, AT&T and Verizon have lost significant chunks of their market values, they may be less likely to bid as much as was expected previously.

Last Friday might have marked the largest single-day market capitalization drop for telecom carriers in history, per Blair Levin, an analyst with Stifel, Nicolaus & Co. Since the beginning of the year, AT&T lost $34.5 billion of its capitalization, and Verizon — $17 billion. Search giant Google lost more than 15% of its capitalization since New Year’s.

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