US Cellular sells 595 towers to Vertical Bridge for USD159m

12 Dec 2014

Chicago-based US Cellular, the United States’ fifth largest mobile network operator by subscribers, has announced that it has entered into a definitive agreement with Vertical Bridge Holdings to sell 595 towers for approximately USD159 million. Wells Fargo Securities and TD Securities served as financial advisors to US Cellular on the transaction, which is expected to close in the first quarter of 2015. Alexander L Gellman, CEO of Vertical Bridge, commented: ‘Vertical Bridge is excited to acquire this portfolio of towers in large metropolitan markets. Many of these sites are in locations that would be very difficult to replace.’

United States, US Cellular Corporation