T-Mobile Reportedly Pursuing Tower Sales In Order To Raise Cash

Posted on Mar 30 2012 - 4:13am by Editorial Staff

Raising the money in whatever possible manner is what’s in the mind of T-Mobile these days in order to continue as an independent entity. Bloomberg is reporting that the company is intending to sell a large number of cell towers, among whom many are of worth $3 billion, as soon as possible, in addition to massive job cuts. T-Mobile told AllThingsD that it was evaluating a “tower sale as part of its self-funding strategy,” but didn’t confirm any details.

“They lost a lot of time last year and that creates urgency to find a solution for those assets soon,” said Jan Goehmann, an analyst at NordLB in Hanover, Germany, who recommends investors buy Deutsche Telekom shares. “This is the logical next step.” The move involves reusing current spectrum as well as spectrum gained as part of the breakup fee paid by AT&T after regulators blocked the acquisition.

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