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T-Mobile USA and Crown Castle complete $2.4 billion cell tower transaction

November 2012

Client(s) T-Mobile USA, Inc.

Jones Day advised T-Mobile USA, Inc. in the monetization of its approximately 7,200 U.S. T-Mobile tower portfolio to Crown Castle International for $2.4 billion, subject to adjustment. Crown Castle will have the exclusive right to lease and operate the T-Mobile towers for a weighted average term of approximately 28 years. In addition, Crown Castle will have the option to purchase such towers at the end of the lease terms for aggregate option payments of approximately $2.4 billion, which payments, if exercised, would be primarily between 2025 and 2048.

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