Crown Castle to Sell Small Cells, Fiber Solutions Assets for Combined $8.5 Billion; Q4 AFFO Falls
Crown Castle (CCI) agreed to sell its small cells and fiber solutions businesses for a combined $8.5 billion to separate buyers after a strategic review.
EQT's (EQT) Active Core Infrastructure fund agreed to buy the small cells solutions business for $4.25 billion, and Zayo agreed to buy the fiber solutions business for $4.25 billion, the companies said Thursday in separate statements.
Crown Castle also reported Q4 adjusted funds from operations late Thursday of $1.80 per diluted share, down from $1.82 a year earlier.
Analysts polled by FactSet expected $1.80.
Net revenue in the three months ended Dec. 31 fell to $1.65 billion from $1.67 billion a year earlier. Analysts surveyed by FactSet expected $1.65 billion.
The company expects fiscal 2025 AFFO of $4.06 to $4.17 a share. Analysts surveyed by FactSet expect $6.89.
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