Vertical Bridge Completes $3.3 Billion Tower Transaction with Verizon
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Vertical Bridge REIT, LLC has completed a $3.3 billion transaction with Verizon Communications Inc., acquiring exclusive rights to lease, operate, and manage over 6,300 wireless towers across the U.S.
December 23, 2024 | 9:30 pm
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Verizon Communications Inc. has finalized a $3.3 billion deal with Vertical Bridge, granting them exclusive rights to manage over 6,300 wireless towers.
The transaction allows Verizon to offload the management of its wireless towers, potentially improving operational efficiency. However, the direct impact on Verizon's stock price is neutral in the short term as the deal was previously announced and likely priced in.
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