April 25 Straight Path Communications Inc
said on Tuesday it received a $104.64 per-share
all-stock buyout offer from a "multi-national telecommunications
company", which it said was superior to AT&T Inc's offer
of $95.63 per share.
Reuters had earlier reported that Verizon Communications Inc
was considering topping AT&T's bid.
AT&T agreed to buy Straight Path, a holder of licenses to
wireless spectrum, for $1.25 billion in an all-stock deal on
Straight Path said it has notified AT&T of the offer and the
telecom company has five days to match or exceed the new offer.
(Reporting by Supantha Mukherjee in Bengaluru; Editing by