AT&T closes $4.83 billion tower deal with Crown Castle

American telecom service provider AT&T has closed its transaction to lease rights to 9,000 of its company-owned wireless towers to Crown Castle International and sale of 600 AT&T towers for $4.83 billion.

In a statement, AT&T said Crown Castle has exclusive rights to lease and operate approximately 9,000 AT&T towers. Crown Castle also has full operating rights to and responsibilities for the towers. AT&T will sublease capacity on the towers from Crown Castle, with access to additional reserve capacity on the towers for future use.

AT&T closes $4.83 billion tower deal with Crown Castle

As per the earlier announced deal, AT&T expects no significant impact to financial results from this transaction. The telecom operator will use the proceeds for general corporate purposes, including opportunistic share repurchases and repayment of commercial paper.

editor@telecomlead.com

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