By Drew FitzGerald 

Verizon Communications Inc. secured the biggest share of wireless airwaves offered in a U.S. government auction that racked up a record $81 billion in bids, according to details released Wednesday.

Verizon pledged $45.5 billion for the mid-range spectrum rights, which can extend the reach and bandwidth of its fifth-generation wireless service. AT&T Inc. bid $23.4 billion, while T-Mobile US Inc. bid $9.3 billion.

(more to come)

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(END) Dow Jones Newswires

February 24, 2021 16:33 ET (21:33 GMT)

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