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Stock Market & Financial Investment News

News Breaks
June 5, 2014
08:01 EDTSBAC, AMT, CCITower stocks should be bought on marked weakness, says RBC Capital
RBC Capital recommends buying cell phone tower stocks on any marked weakness. The firm is upbeat on the towers as it expects the carriers to continue investing in their networks. Tower stocks include SBA Communications (SBAC), Crown Castle (CCI), and American Tower (AMT).
News For SBAC;CCI;AMT From The Last 14 Days
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May 19, 2015
07:43 EDTSBACJPMorgan to hold a conference
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May 14, 2015
08:34 EDTCCICrown Castle to sell Australian subsidiary for about $1.6B in cash
Crown Castle International announced that it has signed a definitive agreement to sell its Australian subsidiary, CCAL, to a consortium of investors led by Macquarie Infrastructure and Real Assets for an aggregate purchase price of approximately $2.B in cash, or approximately $1.6B assuming an exchange rate of 0.80 U.S. dollars to 1.0 Australian dollar. CCAL is 77.6% owned by Crown Castle. Upon consummation of the Transaction, Crown Castle expects to receive net proceeds of approximately $1.3B after accounting for its ownership interest, repayment of intercompany debt owed to it by CCAL and estimated transaction fees and expenses. The Transaction is expected to close during Q2. Crown Castle expects to use the net proceeds from the Transaction to finance its previously announced acquisition of Sunesys and for general corporate purposes, including the repayment of certain of its indebtedness. CCAL was expected to contribute approximately $97M-$102M to Crown Castle's previously provided full year 2015 Outlook for Adjusted EBITDA of $2.15B-$2.16B. Further, CCAL was expected to contribute approximately $58M-$63M to Crown Castle’s previously provided FY15 Outlook for Adjusted Funds from Operations of $1.45B-$1.47B, respectively.

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