AT&T in Cell Towers Deal With Crown Castle

AT&T Inc. plans to lease a portfolio of cell towers, and sell some others, to Crown Castle International Corp. for about $4.85 billion as the telecom giant cashes in on consolidation among tower operators and seeks to spend its money elsewhere.

Under the deal, AT&T will lease the rights to about 9,100 towers and sell about 600 towers. The transaction is expected to close by year-end. AT&T said last month that it was exploring the sale of some or all of its cell towers.

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