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T-Mobile close to inking deal that will see them sell 7,000 cell towers for approximately $2 billion

T-Mobile to sell 7,000 mobile cell towers and rake in $2 billion

| Business, Financial & Legal News | Posted: Aug 2, 2012 4:33 am

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.

 

TweakTown image news/2/5/25123_06_t_mobile_close_to_finalizing_deal_that_will_see_them_sell_7_000_cell_towers_for_approximately_2_billion.jpg

 

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.

NEWS SOURCE
Techspot.com

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