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Verizon looking to sell mobile towers - report
2014-09-25 09:16:00| Telecompaper Headlines
(Telecompaper) Verizon is looking to sell its mobile network towers before the end of the year and has hired New York investment bank Tap Advisors to work on the sale and leasing agreement, Bloomberg reported, citing people familiar with the situation. A sale could bring in about USD 6 billion, based on the price per tower that AT&T got in a tower deal last year. The package would involve about 12,000 towers and could be announced within 1-2 months. Verizon declined to comment. The tower company's CFO Jay Brown said earlier at an investor conference that Crown Castle told Verizon it would be interested in a deal and that the potential price of USD 6 billion was not a deterrent. Verizon has an estimated 12,000 to 15,000 towers, according to Cowen & Co, Bloomberg reported earlier.
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Category:Telecommunications