Verizon Spectrum Position 'Fantastic,' Says CEO

Verizon is “sitting on a fantastic position in spectrum” after investing big in the C band (see 2103040034), CEO Hans Vestberg told a JPMorgan conference Tuesday. It plans to use C band and its high-band spectrum in its fixed-wireless 5G offering, he said. Before buying C band, Verizon had “the best network and the least spectrum,” he said. The provider won’t need new towers to build out the band but will upgrade at facilities where it has 4G, he said. Vestberg said unlike AT&T (see 2105240044), which is cutting its dividend as part of the Discovery deal, Verizon plans to increase its payout. “We can continue to create better bottom line and top line,” he said. Verizon sees “great interest” from customers for private networks using high-band or a 5G slice, he said. Slicing wasn’t possible with 4G, he said. “Sometimes, people ask about when will you monetize 5G,” he said: “We're already doing it.” Vestberg expects buying Tracfone to close in Q3 (see 2105250065).