AT&T Mobility is looking to sell its cell towers and is working with TAP Advisors and JPMorgan Chase on a deal that could value the towers at as much as USD5 billion, Bloomberg reports. The article, which cites unnamed sources familiar with the matter, suggests that AT&T could offload the towers to one of the three major US tower companies: Crown Castle, SBA Communications or American Tower. In March this year, AT&T indicated it was open to selling some of its non-core assets, which might include wireless towers.
As previously reported by TeleGeography’s CommsUpdate, earlier this month American Tower announced plans to acquire privately held rival Global Tower Partners in a deal valued at USD4.8 billion, including debt; the deal is expected to close in the fourth quarter of 2013. American Tower currently owns and operates over 56,000 communications sites in the US, Brazil, Chile, Colombia, Germany, Ghana, India, Mexico, Peru, South Africa and Uganda.