Crown Castle reveals update on fiber business review

Tower company Crown Castle recently revealed that it has been in talks with multiple parties regarding its fiber business in recent months. Miller, who was the company's CEO until 2001, wants to sell the fiber business and has previously said the assets could fetch as much as $15 billion.

"The goal of these assessments was to determine how to optimize the company's enterprise fiber and small cell businesses and determine the fit, value, and synergies both inside and outside of Crown Castle," he said. "As it relates to the overarching conclusion, this review confirmed that we have premier assets in attractive markets throughout the US. The next step was to determine the optimal path to maximizing the value of these assets, both within and/or outside of Crown Castle.

"To help assess the potential value creation opportunities, we have recently engaged with multiple parties, who have expressed interest in a potential transaction involving all or part of our fiber business. These discussions are ongoing."