T-Mobile Selling Off Rights to 7,200 Cell Towers
Replying to: Let me get this strait? by Versed
Re: Let me get this strait?
From Crown Castle's SEC Form DEF 14A (shows all owners of CCI holding >5% of the firm):
Other Security Ownership
The following is a tabulation as of March 26, 2012 of our stockholders who own beneficially in excess of 5% of our Common Stock.
Shares Beneficially
Owned
Beneficial Owner
Number Percent(a)
T. Rowe Price Associates, Inc. (b)
33,598,667 11.47 %
100 E. Pratt Street
Baltimore, MD 21202
SPO Partners & Co. (c)
28,096,957 9.59 %
(including affiliates and related investment funds)
591 Redwood Highway, Suite 3215
Mill Valley, CA 94941
Capital Research Global Investors (d)
20,538,960 7.01 %
333 South Hope Street
Los Angeles, CA 90071
Janus Capital Management LLC (e)
18,541,068 6.33 %
151 Detroit Street
Denver, CO 80206
DT is not a significant owner of CCI.
The concept of a sale, leaseback is quite popular in a lot of industries: Aviation, Industrial tooling, and Wireless. T-Mo monetizes it's asset (the towers) in the near term, and pays for them over the long term. Combine this with the $4B they got from AT&T, and they should be able to significantly modernize their network, or possibly buy another operator (as is being reported elsewhere).
CCI, as a specialized operator of towers can reduce operating costs by leasing space to other operators on the formerly T-Mo towers.
Oh, and the tax benefits (depreciation expense) flow to the owner, meaning CCI will lower their tax bill.
Other Security Ownership
The following is a tabulation as of March 26, 2012 of our stockholders who own beneficially in excess of 5% of our Common Stock.
Shares Beneficially
Owned
Beneficial Owner
Number Percent(a)
T. Rowe Price Associates, Inc. (b)
33,598,667 11.47 %
100 E. Pratt Street
Baltimore, MD 21202
SPO Partners & Co. (c)
28,096,957 9.59 %
(including affiliates and related investment funds)
591 Redwood Highway, Suite 3215
Mill Valley, CA 94941
Capital Research Global Investors (d)
20,538,960 7.01 %
333 South Hope Street
Los Angeles, CA 90071
Janus Capital Management LLC (e)
18,541,068 6.33 %
151 Detroit Street
Denver, CO 80206
DT is not a significant owner of CCI.
The concept of a sale, leaseback is quite popular in a lot of industries: Aviation, Industrial tooling, and Wireless. T-Mo monetizes it's asset (the towers) in the near term, and pays for them over the long term. Combine this with the $4B they got from AT&T, and they should be able to significantly modernize their network, or possibly buy another operator (as is being reported elsewhere).
CCI, as a specialized operator of towers can reduce operating costs by leasing space to other operators on the formerly T-Mo towers.
Oh, and the tax benefits (depreciation expense) flow to the owner, meaning CCI will lower their tax bill.
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