Sprint plans $1 billion cost cuts by shifting radio towers: Re/code

Reuters News
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Posted: Jan 15, 2016 1:34 PM

(Reuters) - Sprint Corp <S.N> plans to save up to $1 billion in costs by relocating its radio towers to low-cost government-owned properties from space leased from private firms, Re/code reported, citing sources.

The U.S. telecom company plans to relocate from the space it has leased from Crown Castle and American Tower Corp <AMT.N> as soon as June or July, Re/code said on Friday.

Sprint was not immediately available for comment.

In November, Sprint said it aimed to slash fiscal 2016 expenses by as much as $2.5 billion through cost cuts, including layoffs.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Savio D'Souza)