Telecom Companies Are Running Out of Time to Make Deals

A looming Federal Communications Commission deadline could spur telecom companies to hurry up deal talks before restrictions on their discussions tie their hands. The FCC said in a public notice that it would stop accepting applications on Sept. 18 for two planned wireless-airwave auctions in 2018. Rules bar applicants from talking with each other from that date until the second auction ends and its winners make their down payments. The standard rule is designed to prevent companies from coordinating bids. The deadline could also prevent telecom companies from holding broader talks about acquisitions, partnerships and other deals unrelated to the auction. The FCC said its ban applies only to talk of auction bidding, though companies have tread carefully going into past auctions to avoid breaking the rules. The first auction will start Nov. 14 and must end before the second auction can begin.