Just weeks ago, Straight Path Communications was an obscure telecommunications company with a $400 million market capitalization. Today, it has a equity valuation of about $3 billion, and it's only climbing higher. What happened? A bidding war between AT&T and Verizon, according to people familiar with the matter. Bloomberg Gadfly columnist Tara Lachapelle and Bloomberg wireless reporter Scott Moritz explain why Verizon is forcing AT&T to pay top dollar for a little-known owner of wireless licenses and airwaves.

<p>Just weeks ago, Straight Path Communications was an obscure telecommunications company with a $400 million market capitalization. Today, it has a equity valuation of about $3 billion, and it's only climbing higher. What happened? A bidding war between AT&amp;T and Verizon, according to people familiar with the matter. Bloomberg Gadfly columnist Tara Lachapelle and Bloomberg wireless reporter Scott Moritz explain why Verizon is forcing AT&amp;T to pay top dollar for a little-known owner of wireless licenses and airwaves.</p>

Bloomberg M&A reporters, joined by outside experts and members of Bloomberg's Deals team, examines the week's biggest deals and highlights M&A trends most under scrutiny by Wall Street. He'll talk to reporters who broke Bloomberg's major scoops and interview investors, executives, lawyers and bankers for an inside peek into what's going on inside corporate boardrooms and what it's like working with the world's largest companies and richest people.

Bloomberg M&A reporter Alex Sherman examines the week's biggest deals and highlights M&A trends most under scrutiny by Wall Street.

Deal of the Week

The Strange Tale of Straight Path

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/25d63da2-df42-44ec-b351-ae39004cfc8e/transcript