Crown Castle International
said Wednesday that its U.K. subsidiary has inked an 11-year $160 million agreement with wireless service provider
One 2 One
to create a turnkey mobile network in Northern Ireland by the middle of next year.
Crown Castle, one of the largest owners of radio towers, will use its network of some 100 towers in Northern Ireland as the backbone of the new network, the Houston-based company said. Having the infrastructure in place will help speed up the rollout of the network, Crown Castle said.
"Both Crown Castle and our customers continue to benefit from our strategy of creating strategic clusters of towers that offer unprecedented speed to market and population coverage," said Ted B. Miller Jr., chairman and chief executive officer of Crown Castle.
Under the terms of the deal, Crown Castle will provide all cell planning, acquisitions, designing, building, operation and maintenance for the mobile network.
One 2 One is a wholly owned subsidiary of German telecom giant
, which bought the company, Britain's fourth largest mobile phone operator, in August for $13.86 billion in cash and debt. (Crown Castle International closed down Wednesday 1 13/16, or 5.62%, at 32 1/4. Duetsche Telekom closed up 1/4, or 0.37%, at 67 15/16.)