Bloomberg News reports that Verizon is close to a deal to sell towers to Vertical Bridge

(Reuters) – Verizon Communications is in advanced talks to sell thousands of cell towers to digital infrastructure company Vertical Bridge, Bloomberg News reported on Monday, citing people familiar with the matter.

The deal, which could be announced as early as Monday, could value the 6,339 towers at about $3.3 billion, the report said.

Under the terms discussed, Verizon would enter into a 10-year agreement to lease back the capacity of Vertical Bridge’s towers, with the option to extend the term up to 50 years, the report said.

Verizon and Vertical Bridge did not immediately respond to Reuters’ requests for comment.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi Majumdar)