Verizon signs lease with American Tower
American Tower and carrier Verizon have signed a long-term lease agreement that will bolster the latter’s ongoing 5G network deployments across the United States by giving it access to additional towers as it attempts to fill the gap. coverage gap on T-Mobile US.
Financial terms and duration of the new tour deal were not disclosed.
A Verizon representative told Mobile world live (MWL), the previous contract between the two companies expired in December and that they had negotiated until August 30, when the new agreement was concluded.
Steve Vondran, president of the US division of American Tower, said the new deal is an extension of the company’s decades-long strategic partnership with Verizon.
In a July research note, MoffettNathanson analyst Craig Moffett wrote that the most recent results from Verizon and AT&T were supportive of tower rental prospects for companies such as American Tower, “in the extent that investing to catch up with T-Mobile is one of the most viable paths they can take to improve their bottom line.
American Tower, which has 43,000 wireless towers in the United States, Crown Castle and SBA Communications, respectively, are the three largest cell tower operators in the United States, according to the Wireless Estimator website.
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