Shares of telecommunications companies rose as traders bet the sector would benefit from a pause on rate hikes. Verizon Communications Chief Executive Lowell McAdam said the company was not planning to buy Walt Disney, scotching rumors reported by The New York Post. AT&T and Verizon, who have long opposed net neutrality rules from the Federal Communications Commission, have called for Congress to weigh in on the issue.
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(END) Dow Jones Newswires
July 12, 2017 16:44 ET (20:44 GMT)