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Stock Market & Financial Investment News

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June 13, 2014
16:42 EDTCCICrown Castle files Form 4 in connection with recent operation as REIT
Crown Castle International announced that its newly formed, wholly owned subsidiary, Crown Castle REIT, filed a proxy statement/prospectus on Form S-4 with the SEC in connection with Crown Castle's recent commencement of operations as a real estate investment trust. Crown Castle proposes to merge with and into CCR in connection with adopting certain charter provisions that implement REIT-related ownership limitations and transfer restrictions related to its capital stock, subject to approval by the holders of Crown Castle's common stock. Crown Castle expects to hold a special meeting of stockholders in the fourth quarter for the purpose of voting on the proposed merger. As previously disclosed, Crown Castle commenced operating as a REIT for U.S. federal income tax purposes effective January 1.
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September 2, 2014
16:07 EDTCCICrown Castle rises 1% after receiving favorable REIT ruling from IRS
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16:07 EDTCCICrown Castle receives favorable private letter ruling from IRS
Crown Castle International announced that it has received from the Internal Revenue Service a favorable private letter ruling with respect to the real property portion of Crown Castle's small cell networks. The PLR provides that the real property portion of Crown Castle's indoor and outdoor small cell networks and the related rents qualify as real property and rents from real property, respectively, under the rules governing real estate investment trusts, or REIT. As previously announced, Crown Castle commenced operations as a REIT effective January 1. Subject to the approval of its Board of Directors, Crown Castle expects to take appropriate action to include the qualifying portion of its small cell systems as part of the REIT effective January 1, 2015. Certain non-qualified assets related to Crown Castle's small cell systems will continue to be held in taxable REIT subsidiaries.
16:06 EDTCCICrown Castle receives favorable private letter ruling from IRS
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