Jennifer Fritzsche, Senior Analyst at Wells Fargo, and her team had dinner with some of the partners of Media Venture Partners. MVP focuses on spectrum tower, fiber and M2M space transactions. According to a research note, the partners told the Wells Fargo team that after Verizon, who has 12,000 towers, and U.S. Cellular, who has 500 towers, there are little portfolios left of size. “It was noted that the next biggest portfolio out there is only approximately 20 towers. We continue to believe being the last tower deal of significant scale gives Verizon strength in terms of negotiation position,” Fritzsche wrote.