SBA Communications to Buy 3.3k Phone Towers From TowerCo. for $1.45 Billion

“(Reuters) – Wireless tower operator SBA Communications Corp will buy 3,252 mobile phone tower sites in the United States and Puerto Rico from privately held TowerCo for about $1.45 billion to benefit from an explosion in data traffic.

TowerCo will get $1.2 billion in cash and 4.6 million SBA common shares, the companies said in a statement.”

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