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Verizon’s Tab in Airwave Auction Makes Asset Sales More Urgent

Verizon Communications Inc. will likely top bidders in a U.S. government airwave auction, and the hefty price tag to satiate data-hungry users is driving the company to raise cash by selling assets.

Financing that bid, which New Street Research estimates to be as high as $20 billion, will add to Verizon’s $107.6 billion in long-term debt, the most among U.S. non-financial companies, according to data compiled by Bloomberg. While debt has been Verizon’s primary fundraising means, it is also working to sell assets including about 12,000 wireless towers and some landlines.