Zayo Group and TPG Eye $10 Billion Deal for Crown Castle's Fiber and Wireless Assets

Zayo Group and TPG are in competition to purchase Crown Castle's fiber and wireless assets, valued at up to $10 billion. The deal is not yet finalized and may not occur, but highlights the rising interest in the fiber industry. Crown Castle seeks to focus on its core tower business as it explores options for its more costly fiber assets.

Zayo Group and buyout firm TPG are in a fierce competition to acquire Crown Castle's fiber and wireless assets, potentially valued at nearly $10 billion, sources reveal.

Jointly owned by EQT AB and DigitalBridge, Zayo and TPG are the current top bidders for Crown Castle's fiber and small cell business units, which together could be valued between $8 billion and $10 billion. However, Crown Castle may opt to sell only one of the assets or none at all, as no deal is imminent and negotiations could still fall through.

The potential transaction comes at a critical time for the fiber industry, which is experiencing rapid growth in broadband and infrastructure investments, thereby increasing the attractiveness of such assets to potential buyers. Crown Castle's exploration of selling these assets aligns with its strategy to cut costs and refocus on its core tower business amid the 5G network expansion and increasing data demands from major U.S. carriers.

(With inputs from agencies.)