Deals
T-Mobile USA Selling Towers to Crown Castle for $2.4 Billion
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Deutsche Telekom AG’s T-Mobile USA agreed to sell the rights to operate 7,200 cellular towers to Crown Castle International Corp. for $2.4 billion, providing cash to invest in the carrier’s U.S. wireless network.
Crown Castle will have the exclusive rights to lease and operate the antenna towers for about 28 years, with the option to fully acquire them at the end of the lease, the companies said in a statement today. Crown Castle will make the payment at the closing of the transaction, which is expected in the fourth quarter, the companies said.