T-Mobile USA may be close to selling 7,000 cellular towers in a deal that could significantly improve its cash position.
Crown Castle International Corp. has emerged as the lead bidder for the assets in a pact that could be worth more than $2 billion, sources told The Wall Street Journal.
The sale would help Deutsche Telekom's T-Mobile USA strengthen its financial position following its failed $39 billion merger last year with AT&T. T-Mobile is spending $4 billion to modernize its network in a race to stay competitive with its larger rivals including AT&T, Sprint and Verizon Wireless.
The Journal warned that the talks with Crown Castle could still break down and noted that American Tower Corp. and Global Tower Partners also are potential buyers of the towers.