Verizon close to deals to sell over $10b in assets

New York

Verizon Communications Inc is nearing wrapping up deals to sell more than $10 billion (Dh36.7 billion) in assets, the Wall Street Journal reported, citing people familiar with the matter. The planned sales include cellphone towers and parts of its landline phone business, the WSJ reported. As Verizon focuses on updating its network, the company would consider selling cellphone towers if it found an attractive deal, chief executive Lowell McAdam said on a January call with investors. “There are certain assets on the wireline side that we think would be better off in somebody else’s hands so we can focus our energy in a little bit more narrow geography,” McAdam said.