AT&T, Verizon in joint deal to construct new comms towers – American Tower Corporation (NYSE:AMT)

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AT&T (NYSE:T) and Verizon (NYSE:VZ) are teaming up on an infrastructure enlargement, coming into right into a joint cope with Tillman infrastructure to construct tons of of recent towers.

Tillman will construct the brand new towers to-suit with the 2 prime canine in U.S. wi-fi, that are committing to leasing and co-anchoring the towers. Construction plans start in Q1 2018.

The transfer fulfills the necessity for brand bad new places the place towers do not exist at this time, the businesses say — and AT&T and Verizon’s feedback present they’re together with new blood of their contract combine.

“We are reviewing all of our long-term contracts as they come up for renewal and we are excited to develop new vendor partners to diversify our infrastructure providers,” says Verizon’s chief community officer, Nicola Palmer.

“We need more alternatives to the traditional tower leasing model with the large incumbents. It’s not cost-effective or sustainable,” says AT&T SVP Susan Johnson.

Major tower corporations at this time: AMT +Zero.6%; SBAC -Zero.eight%; CCI -Zero.2%.

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