April 30, 2015 / 10:42 AM / 4 years ago

Crown Castle to buy Quanta Fiber Networks for $1 billion

(Reuters) - Wireless infrastructure provider Crown Castle International Corp (CCI.N) said it would buy Quanta Fiber Networks Inc for $1 billion to expand its presence in top U.S. metropolitan markets.

Quanta Fiber, a subsidiary of Quanta Services Inc (PWR.N), owns or has rights to nearly 10,000 miles of fiber across the United States in markets such as Los Angeles, Philadelphia, Chicago and Atlanta.

Crown Castle said it expects the deal to close by the end of this year.

Reporting by Abhirup Roy in Bengaluru

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