By Will Feuer

Shares of major cellular carriers Verizon Communications, AT&T and T-Mobile US fell after a Bloomberg report said Amazon.com has been talking with wireless carriers about offering low-cost or free nationwide mobile phone service to Amazon Prime subscribers.

Verizon stock fell 5% to $33.95, while shares of AT&T and T-Mobile fell 5.9% and 6.8%, respectively, in premarket trading Friday.

Bloomberg reported earlier Thursday that Amazon is negotiating with Verizon, T-Mobile and Dish to get the lowest possible wholesale prices to offer Prime members wireless plans for $10 a month or possibly for free, the outlet said, citing people familiar with the situation.

Amazon's talks with cellular carriers have been going on for six to eight weeks and have also included AT&T at times, Bloomberg said, but the mobile service plans may take several more months to launch and could be scrapped.

Shares of Amazon rose 1.5% to $124.64 in the premarket session on Thursday.

The Wall Street Journal reported last week that Dish was also in talks to sell wireless plans through Amazon's U.S. website, a move that could help Dish roll out its 5G network.

Shares of Dish Network rose 8.9% to $6.84 in premarket trading Friday.

Verizon, AT&T, T-Mobile, Dish and Amazon didn't immediately respond to requests for comment from Dow Jones.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

June 02, 2023 09:37 ET (13:37 GMT)

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