VZ building up cash....
NEW YORK (Reuters) - AT&T Inc (NYS:T) said Friday it has agreed to buy wireless airwaves from Verizon Wireless for $1.9 billion in cash and spectrum licenses in five markets.
AT&T said the licenses it is buying cover a population of 42 million people in 18 U.S. states.
It expects to close the deal, which is subject to regulatory approval, in the second half of 2013.
Verizon Wireless is a venture of Verizon Communications (VZ) and Vodafone Group Plc (VOD.L).
interesting thought that VZ is building up cash.