United States Cellular has sold 595 telecom towers to Vertical Bridge Holdings for approximately $159 million.
The transaction is expected to close in the first quarter of 2015, said US Cellular.
“We will use the proceeds from the sale of these non-strategic assets to invest in other long-term investments that position U.S. Cellular for future growth opportunities,” said Kenneth R Meyers, president and CEO of US Cellular.
These towers are in large metropolitan markets and many of these sites are in locations that would be very difficult to replace.
