CARY, N.C.-SpectraSite Communications Inc., the operating arm of bankrupt SpectraSite Holdings Inc., said its WesTower Corp. subsidiary has completed the previously announced sale of SpectraSite’s wireless network services division.
The assets were sold to WesTower L.L.C., an investment vehicle owned by members of the service division’s existing management team, from which they were originally bought. “The completion of this transaction allows SpectraSite to focus on its core business of leasing space to wireless carriers on its portfolio of almost 8,000 towers,” said Stephen Clark, president and chief executive officer of SpectraSite.
SpectraSite is expected to emerge from bankruptcy in early 2003.
