AT&T is Looking to Sell Towers for $5 BillionComments Off on AT&T is Looking to Sell Towers for $5 Billion
Bloombergreported that AT&T is looking for buyers to purchase its wireless towers for approximately $5 billion. This influx in cash will help AT&T’s financials as they begin undertaking a $14 billion network upgrades. “The tower industry is consolidating, with fewer companies controlling bigger swaths of the equipment needed to transmit wireless signals amid booming demand for mobile communications,” Bloomberg explained.
American Tower recently agreed to purchase Global Tower Company and rumor has it that the company is on a bit of a spending spree. American Tower is the largest owner and operator of cell towers in the United States. If they are looking to secure that status, they may consider purchasing AT&T’s towers. However the other two players in the industry, SBA Communications and Crown Castle International, may consider making a deal with AT&T to secure their role in the wireless industry and compete with American Tower.