towerco
Latest
Sprint, TowerCo seal deal on $670M tower sale
That sale of virtually all of Sprint's tower infrastructure announced back in July has now been finalized, giving buyer TowerCo a whole boatload of CDMA, iDEN, and WiMAX footprint it didn't have just a few hours ago. Sprint looks at the $670 million sale as a way to buy itself some "additional liquidity" and "focus more closely on our core business of providing communications services to our customers" (but let's be honest, it's really just about the additional liquidity); TowerCo, meanwhile, sounds like it's anticipating that it'll be able to lease out space on the towers to other carriers as they expand down the road. For its part, Sprint wasted no time signing up for a long-term lease on the very towers it just sold, but here's our doozy of a question: dare we say they're now a TowerCo MVNO?[Thanks, moochy989]
Sprint Nextel sells off "nearly all" of its towers to TowerCo for $670 million
Details are scarce right now, but you can make of it what you will. Sprint hasn't been in the best of situations since it acquired Nextel in 2005, and while this move may not be seen by everyone as definitively negative, it certainly is worth noting. The flagging carrier sold off "nearly all" (around 3,300) of its wireless communication towers to TowerCo for some $670 million in cash. According to Sprint Nextel's Bob Azzi, the move to lease rather than own these network facilities will enable it to "better focus on its core business of providing communications services to consumers, businesses and government customers." He continued by noting that the transaction "provides Sprint Nextel with additional liquidity [for] greater flexibility in managing the company." Whatever you say, sir.[Via InformationWeek]
