Technology Industry
Industry: Email Alert RSS FeedUS Unwired sheds assets with tower sale to AAT.(Business)
RCR Wireless News, December, 2003
Sprint PCS affiliate US Unwired Inc. reported an agreement to sell up to 97 communications towers to AAT Communications Corp. at an average price of $125,000 per tower. The towers are located in Arkansas, Alabama, Mississippi, Florida, Louisiana and Texas with AAT committing to a minimum aggregate purchase of $10 million by Feb. 15, 2004.
US Unwired said it will lease space on the towers at rates and terms consistent with that of its existing leases, and a portion of proceeds from the sale will be used to repay senior credit lenders.
US Unwired has recently announced a number of asset sales, including the sale of its cellular business and five PCS licenses to Cingular Wireless L.L.C., a proposed sale of three PCS licenses to Cellular South...
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