T-Mobile close to $2 billion deal for its 7,000 towers, report says

Crown Castle International is reportedly the lead bidder at the moment, and a deal could be announced "soon."

T-Mobile is looking to raise some cash.
T-Mobile is looking to raise some cash. T-Mobile USA

T-Mobile USA is close to inking a deal to sell 7,000 cell towers, according to a new report.

Tower operator Crown Castle International is the lead bidder for T-Mobile's towers, the Wall Street Journal is reporting today, citing sources. The deal could net T-Mobile $2 billion and cut down on costs related to tower upkeep and service.

Talk of T-Mobile putting its towers up for sale emerged back in March. At that time, J.P. Morgan analyst Philip Cusick said that in addition to the sales price, T-Mobile could save as much as $3 billion a year just by offloading the towers.

Although T-Mobile has put its towers on the block before, the company is arguably more motivated than ever to sell them. T-Mobile is the smallest carrier in the U.S. and the only major provider that doesn't sell the iPhone. What it needs now is cash. And fast. A tower sale could help deliver that.

According to the Journal, T-Mobile's talks with Crown Castle have moved to advanced stages. However, the company is still weighing bids from rival operators American Tower and Global Tower Partners.

CNET has contacted both T-Mobile and Crown Castle for comment on the Journal's report. We will update this story when we have more information.

Featured Video

Why do so many of us still buy cars with off-road abilities?

Cities are full of cars like the Subaru XV that can drive off-road but will never see any challenging terrain. What drives us to buy cars with these abilities when we don't really need them most of the time?

by Drew Stearne