YOU ARE AT:Archived ArticlesCrown defers payment to BT

Crown defers payment to BT

HOUSTON—Crown Castle International Corp. said its subsidiary, Crown Castle UK Ltd., reached an agreement with British Telecommunications plc to defer paying until March 2003 approximately $71.9 million of a $143.7 million payment that was due March 2002 under a transaction relating to BT exchange sites in the United Kingdom.

“The deferral of the payment is reflective of the constructive approach both parties are taking to address the delays in the rollout of 3G services in the U.K.,” said John Kelly, chief executive officer of Crown Castle.

ABOUT AUTHOR