Deals
Verizon Agrees $3.3 Billion Towers Deal With Vertical Bridge
- Transaction covers portfolio of 6,339 towers across the US
- Verizon has entered into a 10-year lease back agreement
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Verizon Communications Inc., the biggest wireless carrier in the US, has agreed to sell the rights to lease thousands of mobile phone towers to digital infrastructure firm Vertical Bridge.
Vertical Bridge will obtain the exclusive rights to lease, operate and manage the portfolio of 6,339 towers for about $3.3 billion, according to a statement on Monday that confirmed earlier Bloomberg News reporting.