CPPIB Is Close to Deal for Wireless-Network Firm Mobilitie

Canada Pension Plan Investment Board is nearing a deal to buy U.S. wireless-solutions provider Mobilitie, bolstering its digital-infrastructure investing efforts, according to people with knowledge with the matter.

The pension fund has so far outbid other suitors, including private equity firms, for Mobilitie, which bills itself as the largest closely held telecommunications-infrastructure company in the U.S., the people said. A transaction is expected to value Mobilitie at more than $1.3 billion, according to some of the people, though terms could change as the deal hasn’t been finalized.