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Verizon in $3.3 bln mobile tower deal with infrastructure firm Vertical Bridge
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Verizon in $3.3 bln mobile tower deal with infrastructure firm Vertical Bridge
Oct 1, 2024 12:03 AM

Sept 30 (Reuters) - U.S. wireless carrier Verizon

Communications ( VZ ) will give digital infrastructure firm

Vertical Bridge exclusive rights to lease, operate and manage

thousands of mobile phone towers in a $3.3 billion deal, the

companies said on Monday.

The deal includes 6,339 wireless communication towers across

all 50 states and Washington DC from the subsidiaries of

Verizon.

Vertical Bridge, which operates as a real estate investment

trust, has more than 500,000 sites in the United States that

includes wireless and broadcast towers.

The Florida-based REIT was co-founded by Alex Gellman in

2014. It has partnerships with companies including AT&T ( T )

and T-Mobile US ( TMUS ).

Verizon had earlier said in September it would buy

fiber-optic internet provider Frontier Communications

in an all-cash deal worth $20 billion.

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