Verizon is reportedly close to selling off parts of its wireline network and some cell towers in a series of deals totaling more than $10 billion, helping the company fund spectrum license purchases that will boost its wireless business. The Wall Street Journal reported the deals today , saying they “will involve different buyers and could be announced as soon as later this week.” The report said Verizon will sell “a package of assets including cellphone towers and parts of its wireline business” but did not get any more specific. Presumably, Verizon would be selling off parts of its old copper telephone and DSL networks rather than its FiOS fiber-to-the-home assets. Given Verizon’s focus on its wireless business, the cell towers are probably surplus to requirements. Verizon’s wireless subsidiary just committed to purchasing $10.4 billion worth of wireless spectrum licenses. Verizon lost $2.23 billion in its most recent quarter. Besides funding that spectrum purchase, Verizon is trying to pay off debt, according to the Journal report. The company “took on a massive debt load” last year when it spent $130 billion to buy out Vodafone’s 45 percent stake in Verizon Wireless, the report said. Verizon now owns 100 percent of Verizon Wireless. Read 2 remaining paragraphs | Comments
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Verizon reportedly selling off old wires to focus more on wireless
