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AT&T sells tower rights to Crown Castle for USD 4.85 bln
2013-10-21 08:46:00| Telecompaper Headlines
(Telecompaper) AT&T has agreed to sell the rights to 9,700 of its mobile towers to Crown Castle for USD 4.85 billion cash. Crown Castle will have the exclusive right to lease and operate the AT&T towers for an average 28 years. At the end of the lease, Crown Castle will have the option to buy the towers for USD 4.2 billion. Crown Castle said nearly half of the AT&T towers are located in the top 50 markets in the US, where the majority of network densification and upgrade activity is expected to occur. The towers average 1.7 existing tenants per site, allowing further room for growth. The deal increases Crown Castle's footprint by 33 percent, strengthening its place as the biggest tower operator in the US. The company expects the contract to be slightly accretive to 2014 adjusted funds from operations per share and add 5 percent over the long term. AT&T has contracted to maintain its communications facilities on the towers for a minimum of 10 years with monthly rent of USD 1,900 per site and fixed annual rent increases of 2 percent. AT&T will also have access to additional space on the towers for its future use, subject to certain restrictions. The transaction is expected to close in the fourth quarter.
INTL FCStone CEO Sells $893,073 in Stock
2013-10-20 07:08:03| Telecom - Topix.net
INTL FCStone CEO George Hanley sold 43,332 shares of the stock in a transaction that occurred on Wednesday, October 16th.
Skyworks Solutions CEO David Aldrich Sells 14,000 Shares
2013-10-20 06:42:03| Semiconductors - Topix.net
Skyworks Solutions CEO David Aldrich sold 14,000 shares of Skyworks Solutions stock on the open market in a transaction that occurred on Wednesday, October 16th.
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Microsemi Corp. EVP Paul Pickle Sells 13,334 Shares
2013-10-19 04:49:17| Semiconductors - Topix.net
Microsemi Corp. EVP Paul Pickle sold 13,334 shares of Microsemi Corp. stock on the open market in a transaction dated Wednesday, October 16th.
Microsemi Corp. EVP Paul Pickle Sells 13,334 Shares
2013-10-19 02:15:55| Electronics - Topix.net
Microsemi Corp. EVP Paul Pickle sold 13,334 shares of Microsemi Corp. stock on the open market in a transaction dated Wednesday, October 16th.
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