Crown Castle Puts Up $2.4B For T-Mobile Cell Tower Rights

Law360, New York (September 28, 2012, 3:36 PM EDT) -- Crown Castle International Corp. will pay a total of $2.4 billion to lease and operate 7,200 cell phone towers owned by wireless provider T-Mobile USA Inc., Crown Castle said Friday, giving it a bigger edge in the tower-leasing market that it already dominates.

Under the terms of the agreement, Houston-based Crown Castle will hold the towers' leasing and operating rights for an average of about 28 years. The company could also buy the towers outright as the lease term finishes, based on payments made between 2025...
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