AT&T Weighing Sale of Its Cell Towers
AT&T is more seriously considering a sale of its wireless towers, reports Bloomberg. AT&T said earlier this year that it might sell its towers. AT&T could net about $5 billion from such a sale, and possible bidders include Crown Castle International, SBA Communications, and American Tower, according to Bloomberg's unidentified source. AT&T owns and operates about 10,000 towers throughout the country, which generate approximately $326 million in annual revenue thanks to other companies that lease space on the towers. The tower sale could shore up AT&T's cash position as it is making a $14 billion investment in its network. AT&T declined to comment on Bloomberg's report.
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