Verizon Communications Inc (NYSE:VZ) is reportedly considering a significant move to sell thousands of mobile phone towers across the U.S.
Verizon has engaged advisors to assess potential buyers’ interest in a package comprising approximately 5,000 to 6,000 towers. A possible sale could yield over $3 billion, Bloomberg cites familiar sources, although discussions are in the early stages and do not guarantee a transaction.
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In 2015, Verizon offloaded lease and operational rights for about 11,000 towers to American Tower Corp (NYSE:AMT) for an upfront payment of $5 billion. This deal helped Verizon raise funds for airwave purchases and debt reduction, according to Bloomberg.
The current batch of towers will likely attract interest from infrastructure companies and strategic investors. Major telecom firms often leverage ...