Verizon outbids AT&T for company with wireless spectrum for self-driving cars

Verizon Communications, the No.1 U.S. wireless carrier, is buying wireless spectrum holder Straight Path Communications for an enterprise value of about $3.1 billion, ending a bidding war with rival AT&T. Straight Path, which holds a large trove of 28 GHz and 39 GHz millimeter wave spectrum used in mobile communications, will give Verizon an advantage in fifth-generation (5G) network development.