BY MALATHI NAYAK AND LIANA B. BAKER
(Reuters) - Verizon Communications (VZ.N) said it would sell wireline assets to Frontier Communications (FTR.O) for $10.54 billion in cash and sell and lease cell phone towers for around $5 billion to American Tower in a deal that will help it pay off recent wireless spectrum purchases.
The transaction is the latest in a series of non-core assets that Verizon has sold in recent months to reduce debt and raise cash for investments.
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