Crown Castle announced they plan to explore the potential sale of its Australian subsidiary, CCAL. CCAL is the largest independent tower operator in Australian, and Crown Castle owns 77.6% of the company and has an intercompany loan of approximately A$306 million (Australian dollars, approximately $237 million USD) from CCAL as of December 31, 2014. “In light of recent unsolicited offers we have received for our interest in CCAL, we have determined that fully exploring the options available to us will ensure the best long-term results for our shareholders,” stated Ben Moreland, Crown Castle’s President and Chief Executive Officer. “Similar to our US business, CCAL has developed into a leading wireless infrastructure provider in the attractive Australian market with a unique portfolio of assets and platform for future growth and expansion.”
Reader Interactions