Verizon Wireless(s vz)(s vod) has long talked up its extensive 700 MHz holdings as the crème-de-la-crème of 4G spectrum, referring to them on numerous occasions as “beachfront property,” compared to the more modest spectral real-estate many of its competitors own. But on Wednesday Verizon revealed it planned to sell off many of its beachfront 700 MHz licenses in exchange for permission to buy the very same low-rent spectrum it’s derided in the past.
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