Verizon sells 6,339 mobile phone towers to Vertical Bridge for $3.3 billion, with a 10-year leaseback.

Verizon Communications is set to sell 6,339 mobile phone towers to Vertical Bridge for approximately $3.3 billion. The agreement includes a 10-year leaseback arrangement, with options to extend for up to 50 years. The deal, structured as a prepaid lease, will provide Verizon with about $2.8 billion in cash. The transaction is expected to close by the end of 2024, pending standard conditions.

September 30, 2024
24 Articles