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Sprint sells off its towers

By Brian K.

Published: Jul 25, 2008, 9:13 AM

Sprint

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In a move that will net Sprint approximately $670 million, Sprint announced that they will be selling 3,300 towers- nearly all of them- to TowerCo. Not only will the move bring in some liquid cash for Sprint, but it will free them from the operation and maintenance costs and allow them "greater flexibility to manage the company" according to senior vice president Bob Azzi. Sprint and TowerCo have an agreement to enter a long-term lease for CDMA, WiMax and iDEN support on the towers. The deal is expected to close in 90 days.

source: InformationWeek via Engadget Mobile

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