AT&T Inc (NYSE: T) was the only Conrad’s Utility Investor Portfolio pick to report numbers last week. Takeaway one is quite positive: The results followed closely those of arch-rival and co-Big Two US communications company Verizon Communications (NYSE: VZ).
We’ve yet to see third quarter results for most of the US communications industry. But it’s not too soon to ask what happened to the assertion the Big Two US Telecoms — AT&T (NYSE: T) and Verizon Communications (NYSE: VZ) — would be skewered by rivals’ cut rate pricing and a cheaper iPhone.
Who says the bond market is washed out? Certainly not Verizon Communications (NYSE: VZ).
The company’s record $49 billion bond sale has not only locked in financing for its $130 billion buyout of Vodafone Plc’s (London: VOD, NYSE: VOD) minority stake in Verizon Wireless. But it was actually doubled, eliminating the need to raise funds in Europe.
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