Verizon close to selling $10B in assets: Report


Verizon could soon close deals to sell more than $10 billion in assets including cellphone towers and parts of its wireline business, Dow Jones reported on Monday, citing sources.

Multiple buyers would be involved in the transactions, which could be announced later this week, the news service said. The largest American wireless carrier is looking to chop down debt and cover the $10.4 billion it bid for licenses in last week's FCC wireless spectrum auction.

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Verizon also incurred considerable debt in its $130 billion buyout of Vodafone's 45 percent stake in the companies' joint wireless venture, Dow Jones reported.

The telecommunications company's shares were up about 2 percent in Monday afternoon trading. Verizon declined to comment on any potential asset sales.

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