2024-10-01 06:45:03
The infrastructure company will gain exclusive rights to manage 6,339 wireless towers as part of a 10-year agreement — with options to extend the deal by up to 50 years.
“Upon the completion of this transaction, these assets, together with our existing portfolio which includes thousands of young, purpose-built towers, enhance Vertical Bridge’s position as a fast, friendly, and flexible colocation partner to the wireless industry,” said Ron Bizick, President and CEO of Vertical Bridge.
Terms of the deal provide Verizon access to additional space on the towers for future use.
The US carrier said its latest deal with Vertical Bridge supports existing efforts to drive tower-related costs.
“As the nation’s largest mobility provider, we are well positioned with greater financial flexibility to invest in our business, return value to our shareholders and make the nation’s best network even better for customers,” said Hans Vestberg, chair and CEO of Verizon.
The transaction is expected to close by the end of 2024, subject to closing conditions.
The news comes after Verizon announced plans to acquire Frontier in a deal worth $20 billion.
RELATED STORIES
Verizon to acquire Frontier in $20bn deal
Verizon taps AI to reduce fibre cuts
Verizon, AT&T to share low band spectrum for satellite coverage
2024-10-01 09:35:02 Press play above to watch FOX 13 News TAMPA, Fla. - Days after…
As India’s economy grows, the banking sector faces a pressing question: is the sluggish growth…
Translated by Nicola Mira Published September 28, 2024 Despite a few drops of rain, the…
Manmohan Singh's birthday: Prime Minister Narendra Modi, Leader of the Opposition in the Lok Sabha…
NEW YORK (AP) — “Saturday Night Live” is set to set off its 50th season…
2024-10-01 09:00:03 Miami Dolphins quarterback Tua Tagovailoa's concussion in Week 2 was the third of…