Verizon Wireless has reportedly enlisted TAP Advisors, a New York boutique investment bank, to work on a tower sale and leasing agreement which could raise as much as USD6 billion. According to Bloomberg, citing two people familiar with the situation, the package will involve about 12,000 towers and could be announced within 30 to 60 days.
TeleGeography notes that TAP has acted as the advisor in the last two major US tower deals, which involved AT&T Mobility (October 2013) and T-Mobile US (October 2012), respectively, with Houston-based Crown Castle the buyer in each instance. AT&T sold 600 towers and the exclusive rights to lease 9,100 more towers for an average of 28 years for USD4.83 billion, while T-Mobile got USD2.4 billion in 2012 for the rights to operate 7,200 towers.
The mooted USD6 billion figure is said to be based on the price-per-tower that AT&T negotiated last year.