Financially troubled Sprint-Nextel announced yesterday, an agreement to sell approximately 3,300 towers to TowerCo for approximately $670 million in cash. Additionally, the two companies have entered into a long term leasing agreement where TowerCo will provide Sprint Nextel with wireless communications towers to support the company’s CDMA, iDEN and WiMAX networks. The specific number of towers and final purchase price will be determined at closing. The transaction, subject to customary closing conditions, is expected to close in 90 days. Equity financing for this transaction will be provided by Tailwind Capital, Soros Strategic Partners II LP, Stone Tower Equity Partners and Vulcan Capital.
You Should Also Check Out This Post:
- T-Mobile and AT&T and TelTech Pay Fines Over Unsecured Voicemail Systems
- Wirefly Weekend Sale: Free Sprint Instinct + Free Headset + Free FedEx Shipping - Ends 12/15
- ATT is offering Nokia 2610 Refurb (Pay As You Go) + $25 Airtime Card Package for $29.99
- AT& is selling Apple 3G iPhone Onlne BUT Not Everyone can get it
- AT&T releases Pantech C630 - a capable and inexpensive candy-bar phone for $39.99
More Active Posts:
- Blackberry 8220 Pearl aka Blackberry Kickstart is now for Sale on eBay (17)
- Bad Economy Hurts AT&T as well resulting a 12,000 jobs cut (9)
- Microsoft is Developing a New Mobile Phone -Codename "Pink" (4)
- Sprint Nextel Might have "significant" job cuts in January, with a possible price cut for customers (2)
- RIM officially announces the BlackBerry Bold/9000 (1)
- Sprint Launches Motorola Renegade V950 (1)
- The new HTC Touch Diamond in video (1)
- Comparative advertising in U.S. operator Sprint, the Battle iPhone vs Instinct (1)
- Tmobile G1 is now available for curent Tmobile Customers resulting My-Tmobile server crashed (1)
- Virgin Mobile USA releases its First 3G Phone, the Shuttle (1)
No User Responded In This Article
Sorry the comment area are closed