NEW YORK CITY—Verizon Communications Inc. isexploring the sale of a data center portfolio thatcould bring more than $2.5 billion, Reuters reported Tuesdayevening. A Verizon spokesman tells GlobeSt.com the company declinesto comment on the Reuters report, which cited unnamed sources saidto be familiar with the matter.
If a sale of Verizon's 48 owned data centers occurs, it wouldreverse the wireless carrier's expansion into hosting andco-location services after its $1.4-billion acquisition of datacenter operator Terremark Worldwide Inc. in 2011.This past November, CFO Fran Shammo said thatreports of up to $10 billion in asset sales, including a sell-offof Terremark, were "speculative."
Citigroup is advising Verizon on a possiblesale, which would further the company's drive to focus on its corebusinesses, Reuters reported. This past February, Verizon announcedthat it would sell 11,448 cell phone towers to wireless REITAmerican Tower Corp. for $5.1 billion, a deal thatclosed last March.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
