Long-Awaited 5G Auction Expected to Stretch Carriers' Balance Sheets [telecom]

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Wireless companies including Verizon expected to splurge on U.S. auction of C-band spectrum

By Drew FitzGerald

Verizon Communications Inc. VZ 0.03% and other cellphone providers are expected to spend billions of dollars to secure prized spectrum for their 5G networks in a U.S. government sale that kicks off Tuesday.

The Federal Communications Commission is launching a new auction for C-band airwaves, a stretch of wireless frequencies especially valued by companies trying to offer the fifth-generation service.