Verizon ( (VZ) ) just unveiled an update.
Verizon Communications Inc. and Vertical Bridge REIT, LLC have announced a monumental $3.3 billion deal giving Vertical Bridge exclusive rights to lease and manage over 6,000 Verizon wireless towers. With a prepaid lease and $2.8 billion cash upfront, this strategic move will bolster Verizon’s network capabilities while providing Vertical Bridge a significant boost in the communications infrastructure realm. The deal, expected to close by the end of 2024, promises to enhance Verizon’s financial flexibility and network efficiency, ensuring they remain at the forefront of the industry.
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