Cases & Deals

Sprint Nextel sells 3,300 cell towers to TowerCo for $670 million

Clients Sprint Nextel Corporation

Jones Day provided advice to Sprint Nextel Corporation in connection with its agreement to sell approximately 3,300 cell towers to TowerCo for approximately $670 million in cash and lease back space on the cell towers following the closing of the sale. Additionally, the two companies have entered into a long term leasing agreement where TowerCo will provide Sprint Nextel with wireless communications towers to support the company's CDMA, iDEN and WiMAX networks.