Tuesday, February 3, 2015

Verizon Nears Tower Deal

Verizon is close to selling a $10 billion package of assets that would include cell towers and part of its wireline business, The Wall Street Journal reported, citing people familiar with the matter. The deals will involve different buyers, and could be announced as soon as later this week. After the spectrum auction, where Verizon dropped $10.4 billion, the company is looking to pay down their debt and cover the cost of the spectrum. “Verizon, the country’s largest wireless carrier, took on a massive debt load to complete its $130 billion buyout of Vodafone Group PLC’s 45% stake in their U.S. wireless joint venture. Continue reading here

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