AT&T closes on Crown Castle dealDecember 17, 2013
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DALLAS (AP) — AT&T said Monday that it has closed on its deal with Crown Castle International Corp. to lease the rights of 9,000 of its company-owned wireless towers and sell approximately 600 more. The Dallas-based company received approximately $4.83 billion at closing.
AT&T first announced the deal in October. The company said Monday that it plans to use the proceeds to buy back stock and pay off debt.
The communications company expects no significant impact to financial results from this transaction.
Shares of AT&T added 30 cents to close regular trading at $34.15, in line with broader market trends. Its stock added 4 cents to reach $34.19 in after-hours trading following the announcement.