Reported 7 days ago
Verizon Communications has finalized a deal to sell and lease back 6,339 mobile phone towers to infrastructure firm Vertical Bridge for $3.3 billion, aiming to improve cash flow and reduce tower-related costs. The agreement includes $2.8 billion in upfront cash and will see the towers leased back to Verizon for a 10-year term with options for extension. This transaction aligns with a trend in the wireless industry where operators are divesting tower assets, allowing independent firms to effectively manage and lease these sites.
Source: YAHOO