AT&T has beat out arch-rival Verizon to be named the most valuable telecoms brand of 2017.
The telecom companies took the first and second spots in the 2017 edition of Brand Finance’s Global 500 ranking, an annual report from the independent brand evaluation firm.
AT&T’s brand value spiked 45 percent this year to $87 billion, pushing past Verizon, which has a valuation of $65 billion and four percent brand value growth.
Brand Finance attributed AT&T’s recent success to its acquisitive growth in South America and Mexico as well as its 2015 takeover of DirecTV, which resulted in “continued growth in brand value and an increase in market share.”
As for No. 2 Verizon, a “spate of rumours” has surrounded its potential takeover of Charter Communications.
“Such a deal would create the U.S.’s biggest Internet provider and is yet another example of the consolidation affecting the industry,” Brand Finance said in a press release. “Verizon’s share price jumped as the speculation continued though has since cooled after the deal failed to materialize and concerns were raised at the levels of debt the new entity would be exposed to. A new Charter/Verizon combined entity would reportedly be the world’s largest debtor, with borrowings of over $200 billion.”
Taking third place on the most valuable telecoms brand list was China Mobile with a valuation of $46 billion, followed by T (Deutsche Telekom) with $36 billion and Xfinity with $26 billion.
Rounding out the top 10 were Vodafone in sixth place with a valuation of $21.8 billion, Orange in seventh with $21.5 billion, NTT in eighth with $21.1 billion, Softbank in ninth with $20.6 billion and NTT Docomo in the No. 10 spot with $19 billion.
Other notables on the Top 500 list were Bell Canada in 19th place with a valuation of $9 billion, Sprint in the 21st slot with $8 billion, Rogers in 24th with $6.8 billion and Telus in 26th with $6.5 billion.
To see the complete list, click here.
Jennifer Cowan is the Managing Editor for SiteProNews.
The post AT&T Surpasses Verizon to Become World’s Most Valuable Telecoms Brand appeared first on SiteProNews.