According to a Bloomberg report on Tuesday, U.S. wireless carrier Verizon Communications (NYSE:VZ) is considering selling thousands of mobile phone towers nationwide.
The media firm, citing people familiar with the matter, said Verizon has enlisted advisers to assess potential interest from buyers for a package of roughly 5,000 to 6,000 towers. A sale could bring in more than $3 billion.
However, Bloomberg cautions that the deliberations are preliminary and there is no guarantee they will result in a sale.
In 2015, Verizon sold the rights to lease and operate approximately 11,000 towers to American Tower Corp. for an upfront payment of $5 billion. This deal helped Verizon raise funds for airwave purchases and to pay down debt.
Bloomberg believes the towers up for sale this time could draw interest from infrastructure businesses as well as strategic buyers. They add that telecom firms sometimes look to sell their towers as a way to raise cash.
Verizon shares are up more than 1% Tuesday, trading at around $41.30 per share. This year, it has gained more than 9% in value, while in the last 12 months it is up over 22%.