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TheStreet Open House

Verizon To Ditch Most Phone Plans For Shared Ones

Under "Share Everything," Verizon will stop charging extra for letting devices act as "mobile Wi-Fi hotspots." That means subscribers who have a recent smartphone could use it to connect a tablet to the Internet, without paying the extra $10 per month for a tablet.

Verizon had telegraphed the move toward shared plans, but had not revealed the details or pricing.

Verizon Wireless has 93 million subscribers on its plans. It's a joint venture of New York-based phone company Verizon Communications Inc. and Vodafone Group PLC, a British cellphone company with wide international interests.

Verizon shares rose 2 cents to $42.58 in morning trading. The shares are close to a four-year high of $42.95.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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