If reports floating around are true, T-Mobile are close to inking a deal that would see them selling 7,000 cell towers for approximately $2 billion. Crown Castle International is the current lead bidder for the cell towers, reports the Wall Street Journal.
After a failed acquisition by AT&T, T-Mobile could do with the cash injection, being the fourth-largest US wireless carrier. T-Mobile received $1 billion in wireless spectrum and another $3 billion in cash from AT&T as part of the breakup deal. T-Mobile would also benefit in other ways from the sale of the cell towers in the form of saving money on tower upkeep and service over the coming years.
T-Mobile could also use some of the $2 billion to help build their 4G LTE infrastructure as part of a program that will see the company spend roughly $4 billion over the next few years. Rival bidders for the 7,000 cell towers are lead-bidder Crown Castle International, American Tower Corp. and Global Tower Partners. Once the deal is done, we should hear again and we'll keep you updated.