Deals
Verizon's CEO Choice Puts Focus Back on Industry Race Toward 5G
- Move signals that a blockbuster media deal is far less likely
- Verizon says it won’t be ‘tricked into doing something stupid’
Hans Vestberg
Photographer: Johan Jeppsson/Bloomberg
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In elevating technology chief Hans Vestberg to lead the overall company on Friday, Verizon Communications Inc. sent a message to the rest of the industry: It’s doubling down on network expansion to ward off increasingly ambitious rivals.
While AT&T Inc. tries to complete an acquisition of Time Warner Inc. and T-Mobile US Inc. pursues its merger with Sprint Corp., Verizon wants no distractions. It’s betting that being first to build a faster fifth-generation network will give it an edge over competitors for years.