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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why Verizon, BlackRock Collaborated

BlackRock Verizon NYSE VZ Hudson Yards BlackRock Inc Manhattan Nasdaq New York TMUS
  • Verizon Communications Inc (NYSE:VZ) looks to build a private 5G network for BlackRock Inc at its new Hudson Yards headquarters, juicing up rivalry with AT&T Inc (NYSE:T) and T-Mobile US Inc (NASDAQ:TMUS).
  • Verizon said that the new 5G wireless technology could replace Wi-Fi and give BlackRock the ability to use applications like virtual reality and edge computing that require nearly instantaneous network response time. 
  • The leading asset manager looks to occupy 15 floors of the new 50 Hudson Yards tower on Manhattan’s West Side later this year or early next year, Bloomberg reports.
  • BlackRock secured $25 million in tax credits from the state for keeping and creating jobs in New York.
  • Price Action: VZ shares closed lower by 0.83% at $53.67 on Monday.
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