Sprint Nextel’s full buyout of Clearwire will result in redundant...
Sprint Nextel’s full buyout of Clearwire will result in redundant leases at about 2,700 Crown Castle International tower sites where both carriers have leased space, the tower company said late Monday. Sprint has an average of nine years remaining on…
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its lease agreements with CCI, while Clearwire has an average of four years remaining on its leases. CCI said Sprint’s leases represent about 23 percent of the tower company’s annualized consolidated site rental revenue, while Clearwire represents 3 percent (http://xrl.us/bn623z). Sprint already owned 51 percent of Clearwire, and reached a deal Monday to buy the remaining ownership stake from shareholders for $2.2 billion (CD Dec 18 p7).