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Sprint to Sell Certain Network Assets for $2.2 Billion

Apr 7, 2016, 7:07 AM by Eric M. Zeman

Sprint has agreed to sell select network assets to a company called Network LeaseCo and then lease back those assets for an unspecified sum. The move is meant to boost Sprint's cash position and will eventually add $2.2 billion to the company's coffers. Sprint will rely on the assets as collateral to generate loans from SoftBank and other external entities. Sprint has about $6 billion in cash on hand and will use the $2.2 billion infusion to cover debts. In 2008, Sprint made a similar move by selling many of its cell towers to TowerCo. Sprint then leased back access to those towers.

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Comments

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This forum is closed.

Zpike

Apr 14, 2016, 5:35 PM

That must be why my service recently went to dog ****

I guess Sprint just turned off the towers until they can sell them. Calls drop like crazy and 4G is virtually nonexistent... 3G shows up but doesn't work. Sprint's network has become a giant turd.

jrcase

Apr 7, 2016, 8:22 AM

They are cooked.....

Put fork in them.... they are done. RIP.

AdHominems

People on this site have literally been saying this for over 10 years.

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