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Verizon Closer to $10B Asset Sale to Pay Down Debt

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Feb 2, 2015, 2:51 PM by Eric M. Zeman

Verizon Communications has lined up several deals that will earn it up to $10 billion, reports the Wall Street Journal. The company took on a massive amount of debt to buy Vodafone's portion of Verizon Wireless last year. It will also soon need to pay the government $10.4 billion for licenses it won in the recent AWS-3 spectrum auction. Verizon, which said last month it might explore asset sales, may sell some of its cell towers and a portion of its wireline business in select markets, according to the Journal's sources. Verizon may announce the deals later this week, but the company did not comment on the Journal's article.

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