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

July 2008

Client(s) 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.

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