Verizon to offload regional fibre assets, cell towers; dual sale could generate up to USD11bn

3 Feb 2015

Verizon Communications is close to selling a package of assets including wireless towers and parts of its wireline business, the Wall Street Journal reports. The sale could generate as much as USD11.0 billion, of which USD10.4 billion will be used to bankroll Verizon’s purchase of AWS-3 spectrum in the Federal Communications Commission’s recently concluded Auction 97. Verizon secured a total of 181 spectrum lots during the two-month bidding process. Licence fees are due to be paid to the government by 2 March.

The sale of the fixed line operations is said to include parts of Verizon’s fibre-optic network in Florida, Texas and California, and may generate more than USD5 billion, a person familiar with the situation told the business journal. Meanwhile, the tower sale is targeting 12,000 antenna sites and has been in the works since September 2014. This deal could raise around USD6 billion. According to the WSJ, the deals could be unveiled as early as this week.

United States, Verizon Communications, Verizon Wireless