CEQUEL III, the telecommunications-investment company headed by former
Charter Communications Inc. CEO Jerry Kent, said one of its AAT Communications
Corp. holdings has agreed to buy as many as 801 communications towers.
AAT, which owns or manages more than 6,000 towers across the country, will
buy 679 towers from SBA Communications Corp. for $160 million. That number could
increase to 801 towers for $203 million under certain conditions.
The towers comprise substantially all of SBA's tower assets in the Western
United States.
The deal is expected to close in stages between May 9 and Sept.
30.
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