By Dhirendra Tripathi
Investing.com – Verizon (NYSE:VZ) and AT&T (NYSE:T) stocks slipped Thursday after a report in The Wall Street Journal said the telecom companies had agreed to delay their planned December 5 rollout of a new 5G frequency band.
Verizon, the largest U.S. telecom company by subscribers, traded 1.6% lower, while AT&T fell 0.5%.
The decision comes as the companies sought to address the Federal Aviation Administration’s concerns about interference with safety systems in airplanes’ cockpits.
Interference between spectrum bands used by different end-users for their services has been a long-standing issue, particularly between telecom service providers and airlines. The lack of spectrum as compared to its demand from various players also makes it contentious.
T-Mobile (NASDAQ:TMUS), which claims to have the widest 5G network in the country, traded 0.8% higher. The second largest telecom company Tuesday reported third-quarter numbers that beat estimates.