Google shares break US$700 on reports of wireless talks

Google's stock topped US$700 for the first time on Wednesday, as reports about its mobile software plans heated up.

The FCC later attached open-access requirements on a third of the spectrum to be auctioned, but stopped short of adopting another Google suggestion that winning bidders be required to resell the spectrum at wholesale rates to competitors.

Google, which has a dominant position in online advertising delivered via PCs, dwarfing with its massive success the performance of Internet giants like Yahoo, AOL and Microsoft, knows that the leadership in the mobile space is up for grabs.

Unsurprisingly, Google is displaying a clear sense of urgency about the wide open mobile field as well as signs of discomfort at the complexities inherent in the mobile market that have prevented it from acting with the liberty and speed it is accustomed to.

"The mobile space is very complicated," acknowledged Marissa Mayer, Google's vice president of Search Products & User Experience, in a recent interview with IDG News Service.

After nearing US$705 in mid-morning, up by about US$10.00 from Tuesday's closing price, Google's stock was trading closer to US$700 in late morning Wednesday.

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