Last week we learned that Verizon bid a total of $10.4 billion in the FCC’s AWS-3 spectrum auction, which while not the highest total amount of bids, is still a lot of cash. Now a new report claims to have details on how Verizon will help finance its bids.
Sources speaking to the Wall Street Journal say that Verizon is working on several deals to sell a package of assets that includes cell towers and some of its wireline business. Exactly which companies are working with Verizon isn’t clear, but it’s said that the deals could be worth more than $10 billion and that they could be announced later this week.
Details of Verizon’s deals are light, but it’ll be interesting to see how many of its cell towers it ends up selling as part of these deals and who ends up buying them. Stay tuned and I’ll update you with more details as I get ‘em.