Telecoms Lower on Doubts on New Smartphones -- Telecoms Roundup

Features Dow Jones Newswires

Shares of telecommunications companies declined as traders backed off bets on a growth spurt associated with the launch of new smartphones.

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British mobile carrier Vodafone Group plans to sell around 5.2% of the shares in its African offshoot Vodacom Group to enable the company to meet the minimum 20% free float requirement imposed by the Johannesburg Stock Exchange.

A new Verizon Communications rewards program, Verizon Up, provides credits that wireless subscribers can use for concert tickets, movie premieres and phone upgrades, as long as they give up their web-browsing history, The Wall Street Journal reported. The move is part of the telecom company's efforts to build a digital-advertising business.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

September 05, 2017 16:43 ET (20:43 GMT)