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T-Mobile leases 7,200 mobile sites to Crown Castle

09/28, 2:46pm

Deal lasts 28 years, costs $2.4 billion

T-Mobile has signed an agreement with Crown Castle to lease 7,200 wireless towers. The carrier will hand the towers to Crown Castle for a period of 28 years, in exchange for a $2.4 billion rental fee. The proceeds of the deal will go some way towards paying off debts accumulated by T-Mobile's parent company, Deutsche Telekom.

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