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Telecoms Down As Treasury Yields Rise - Telecoms Roundup

Dow Jones Newswires

Shares of telecommunications companies fell as a rise in Treasury yields caused another flight from dividend-oriented sectors. Federal Communications Commission Chairman Ajit Pai said he opposes the federal government building the 5G network, responding to reports that such an unorthodox move was under consideration by the Trump administration. Carriers such as AT&T and Verizon Communications are expected to invest billions of dollars in new infrastructure for the latest "fifth generation" upgrade of national and international wireless networks. Meredith Chief Operating Officer Tom Harty has been named chief executive of the combined media company as it prepares to closer a merger with rival magazine publisher Time Inc. -Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

January 29, 2018 16:29 ET (21:29 GMT)