Thursday, October 19, 2017

SoftBank and Lendlease Team Up for Tower Roll-up

In a joint venture with Australia’s Lendlease Group, SoftBank Group Corp. intends to buy approximately 8,000 cellular sites across the U.S. Lendlease will be the joint venture manager, asset manager and development manager.

The new infrastructure company, Lendlease Towers, aims to partner with major U.S. carriers to roll out further phases of their infrastructure plans to meet growing demand for data. The goal is to obtain $5 billion of telecom assets, “over the medium term,” through a development and acquisition-based strategy, says a Lendlease spokesman. According to Fox Business, Sprint Corp. is selling its interest in rooftop transmitters and other sites to Lendlease Towers, to get the process started. SoftBank currently owns about 80 percent of Sprint’s outstanding shares. Continue Reading

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