Crown Castle closes $8.5 billion fiber and small cell sale
Updated
Updated · MarketWatch · May 1
Crown Castle closes $8.5 billion fiber and small cell sale
8 articles · Updated · MarketWatch · May 1
The company sold the units to Zayo Group and Arium Networks and raised its full-year earnings outlook by 14 cents at the midpoint.
Crown Castle now expects full-year earnings of $1.61 to $2.26 a share and adjusted funds from operations of $4.53 to $4.65 a share.
The AFFO outlook increased by 16 cents at the midpoint after the transaction, reflecting the financial impact of exiting the fiber solutions and small cell businesses.
Can Crown Castle's 'pure-play' strategy survive the multi-billion dollar dispute with its major client, DISH?
Did Crown Castle sell its future growth engines just to fund its legacy tower business?