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Wireless REIT Crown Castle International: Solely Focused On U.S. Markets & Fiber

2015-05-17 09:58:52| Wireless - Topix.net

It's now official, wireless tower REIT Crown Castle International Corp will be solely focused on growing its U.S. wireless network, having announced the $1.6 billion sale of its Australian CCAL cell tower subsidiary on May 14, to a group led by Macquarie Group Ltd. According to the announcement, "CCAL was expected to contribute approximately US$58 million to US$63 million to Crown Castle's previously provided full year 2015 Outlook for Adjusted Funds from Operations of $1.450 billion to $1.465 billion, respectively." Crown Castle owns 77.6 percent of CCAL, and stands to net ~$1.3 billion USD based upon an exchange rate of 0.80 USD to 1.00 Australian dollar.

Tags: international wireless markets focused

Category:Telecommunications

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