Headline: Verizon has agreed to sell over 6,300 wireless communication towers to infrastructure firm Vertical Bridge in a $3.3 billion transaction. This deal provides Verizon financial flexibility while enabling Vertical Bridge to expand its tower portfolio.
Article: As part of the agreement, Verizon will lease back space on these towers for the next 10 years, with extended options. This partnership supports Verizon’s network growth while reducing tower-related costs. The transaction is expected to close by the end of 2024.
Date: September 2024
Read the full article here: Reuters
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