T-Mobile leases 7,200 mobile sites to Crown Castle
09/28, 2:46pm
Deal lasts 28 years, costs $2.4 billion
T-Mobile has signed an agreement with Crown Castle to lease 7,200 wireless towers. The carrier will hand the towers to Crown Castle for a period of 28 years, in exchange for a $2.4 billion rental fee. The proceeds of the deal will go some way towards paying off debts accumulated by T-Mobile's parent company, Deutsche Telekom.