The US’ largest carrier Verizon Communications could offload some of its network assets, including mobile towers, CFO Fran Shammo was reported as saying.
Shammo told investors at a conference in Los Angeles that the idea of selling and leasing back…
The US’ largest carrier Verizon Communications could offload some of its network assets, including mobile towers, CFO Fran Shammo was reported as saying.
Shammo told investors at a conference in Los Angeles that the idea of selling and leasing back its towers was inspired by AT&T’s US$4.85bn sale of some of its towers to Crown Castle last year, according to a Reuters report.
His comments follow a recent report quoting Verizon CEO Lowell McAdam as saying that the company would be open to selling some of its towers if the price was right, adding that the US incumbent had received preliminary offers at inadequate valuations two years ago.
Separately, Shammo was also reported as saying that the company will have better leverage once Nielsen Holdings, which measures television audiences, launches its mobile audiences service in the fourth quarter.
Earlier this month, the company issued US$870m of senior unsecured notes to refinance debt.
Last February, the company acquired Vodafone’s 45% stake in Verizon Wireless for US$130bn.
Verizon did not respond to a request for comment.
