The enemy of my enemy
While some of these deals were temporary, granting T-Mo access to the necessary airwaves to handle traffic spikes generated at the beginning of the coronavirus pandemic, a number of leases were extended for up to three years, which certainly didn't make Verizon and AT&T happy.
Needless to point out that it's pretty unusual to see these two helping each other out, and for the most part, echoing one another's arguments. But that's how big of a threat T-Mobile has become.
There's much more at stake here
Although T-Mobile CEO Mike Sievert has recently expressed a cautious view in regards to the auction set to kick off in December, stressing his company's "position of strength" in the market and "tradition of being disciplined" when it comes to highly coveted spectrum, Verizon and AT&T fear one of two things will happen.
Namely, Magenta could add even more spectrum to its already impressive 5G war chest at the end of the auction or simply try to get Verizon and AT&T to outspend on technology they badly need to stay become competitive without actually intending to win more spectrum.
This neat chart is used by AT&T to highlight T-Mobile's low and mid-band spectrum lead
In case you're wondering, T-Mobile's current low and mid-band properties exceed Verizon and AT&T's combined total by a pretty significant margin while also topping a so-called "spectrum screen" created by the Federal Communications Commission to prevent these types of situations and controversies. Ironically, the "Un-carrier" supported enforcing restrictions on the amount of spectrum holdings one operator could aggregate in the not-so-distant past, but at the same time, Verizon was not much of a proponent of strictly applying these rules on a number of occasions either.
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