AT&T to buy Straight Path Communications for $1.25 billion

Markets Reuters

FILE PHOTO -- An AT&T sign is seen outside a branch in Rolling Meadows, Illinois, U.S., October 24, 2016. REUTERS/Jim Young/File Photo (Copyright Reuters 2017)

U.S. wireless carrier AT&T Inc said on Monday it would buy Straight Path Communications Inc , a holder of licenses to wireless spectrum, for $1.25 billion.

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The No.2 U.S. carrier said it would offer $95.63 per share, a premium of 162.1 percent to Straight Path's Friday close.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta)