Auction Offers Investors a Wireless Signal

The government is taking a wireless roll call. And the list of those present may tell a story of its own.

September 12 was the deadline for applications to bid in the Federal Communications Commission's Nov. 13 auction for wireless spectrum. Sprint already has said it isn't bidding because the airwaves in question don't fit its needs. But AT&T, Verizon and T-Mobile all are expected to, along with spectrum heavyweight Dish Network. More notable would be the presence of a company like Google on the list of qualified bidders, which the agency will release in coming weeks. It doesn't have a wireless business now, but putting its name into the hat could signal future ambitions. Comcast says that it isn't bidding. Indeed, the presence of Google or another surprise player would be seen as positive for T-Mobile, whose majority owner, Deutsche Telekom, is thought to be interested in selling.

For wireless investors, the list of bidders could prove a Rosetta Stone.