Crown Castle lower after report of $7B-plus Lightower bid

|About: Crown Castle International... (CCI)|By:, SA News Editor

Crown Castle International (CCI -1.9%) has opened lower after weekend word that it's offered to buy Lightower Fiber Networks in what would be its biggest acquisition.

The company offered more than $7B including debt, Reuters reports, and would add substantial fiber assets to a company built on communications towers. Sealing the deal would mean prevailing over less well-funded rivals like Uniti Group (UNIT +0.8%).

A deal could come as soon as this month after Lightower majority owner Berkshire Partners studies the bid, the report says.