Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Apple Tankwatch -- Ignore unavailable to you. Want to Upgrade?

To: sylvester80 who wrote (20759)	8/1/2012 12:55:17 PM
From: John Koligman	Respond to of 32692

T-Mobile close to $2 billion deal for its 7,000 towers, report says Crown Castle International is reportedly the lead bidder at the moment, and a deal could be announced "soon." by Don Reisinger August 1, 2012 7:40 AM PDT T-Mobile is looking to raise some cash. (Credit: T-Mobile USA) T-Mobile USA is close to inking a deal to sell 7,000 cell towers, according to a new report. Tower operator Crown Castle International is the lead bidder for T-Mobile's towers, the Wall Street Journal is reporting today, citing sources. The deal could net T-Mobile $2 billion and cut down on costs related to tower upkeep and service. Talk of T-Mobile putting its towers up for sale emerged back in March. At that time, J.P. Morgan analyst Philip Cusick said that in addition to the sales price, T-Mobile could save as much as $3 billion a year just by offloading the towers. Related stories T-Mobile's Samsung Galaxy Note lands August 8 for $250 T-Mobile could get HTC One X+ this September Visa: Mobile payments will hit mainstream in 2 to 3 years Although T-Mobile has put its towers on the block before, the company is arguably more motivated than ever to sell them. T-Mobile is the smallest carrier in the U.S. and the only major provider that doesn't sell the iPhone. What it needs now is cash. And fast. A tower sale could help deliver that. According to the Journal, T-Mobile's talks with Crown Castle have moved to advanced stages. However, the company is still weighing bids from rival operators American Tower and Global Tower Partners. CNET has contacted both T-Mobile and Crown Castle for comment on the Journal's report. We will update this story when we have more information.