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AT&T’s $1.6bn bid for Straight Path is topped by mystery bidder

AT&T has been gazumped in its $1.6bn bid to acquire Straight Path Communications, a deal which would bring it improved resources in high frequency spectrum and would complement its recent purchase of FiberTower. Straight Path says it has received a higher offer from an unnamed “multinational telecommunications company”, which most observers are assuming to be Verizon, which is also keen to increase its access to millimeter wave airwaves to support early 5G deployments for fixed wireless. However, it is not impossible that T-Mobile USA is the bidder. The new bid stands at $104.64 per share, or $1.8bn in total and was announced on April 25. “AT&T has the option for the next five business days to negotiate a possible amendment…

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