It was reported that Aircel Cellular Limited has shortlisted GTL Infrastructure Ltd., Wireless Tata Telecom Infrastructure Limited (Tata-Quippo) combine and Bharti Infratel Limited for a potential $2 billion sale of its tower business. Sources with direct knowledge of the developments said that as the transaction entered its final stage, Aircel has decided to exit the tower infrastructure operations completely. The three firms were reportedly short-listed two weeks back after the final bids were filed on October 12, 2009. American Tower Corp. (ATC) and Crown Castle International Corp. have not made it to the last round. Reuters reported that an e-mail query and calls made to Aircel's spokesperson elicited no response. It was also reported that Tata-Quippo is engaged in discussions with Apollo Management, L.P. and General Atlantic LLC for financial closure in the event of clinching the bid. GTL may look at raising quick debt or tap financial investors. The report added that Aircel had appointed Standard Chartered Bank, Nomura and N M Rothschild for sale of its tower business. While an initial agreement with a selected bidder could be in place shortly, the deal closure may be some months away as Aircel will have to de-merge the tower operations.

Crown Castle International Corp. provided earnings guidance for the full year of 2009 and 2010. For the full year of 2009, the company expects adjusted EBITDA by $20.5 million and recurring cash flow by $20.5 million. For the full year of 2010, the company expects recurring cash flow to grow approximately 16% year-over-year. The company also expects guidance $116 million of revenue growth from 2009 to 2010.

Crown Castle International Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company's total revenue was increased by 12% to $429.1 million from $384.3 million in the same period in 2008. Adjusted EBITDA increased $42.8 million, or 20%, to $260.5 million from $217.7 million in the same period in 2008. Net loss attributable to stockholders of the company was $31.6 million inclusive of $58.3 million of losses on interest rate swaps, compared to a net loss attributable to stockholders of $32.2 million for the same period in 2008. Net loss attributable to stockholders of the company after deduction of dividends on preferred stock was $36.8 million, compared to a net loss attributable to stockholders after deduction of dividends on preferred stock of $37.4 million for the same period in 2008. Net loss attributable to common stockholders per common share was $0.13 for each of the third quarter of 2009 and the third quarter 2008. The company invested approximately $32.4 million in capital expenditures. Capital expenditures were comprised of $5.5 million of sustaining capital expenditures and $26.9 million of revenue generating capital expenditures, of which $1.0 million was spent on land purchases, $21.2 million on existing sites and $4.7 million on the construction and acquisition of new sites. Operating income was $118.8 million compared to $76 million a year ago. Income before income taxes was $53 million compared to $34.3 million a year ago. For the nine months, the company net loss attributable to stockholders was $31.6 million compared to $32.2 million a year ago. Net loss attributable to stockholders was $132.5 million compared to net income attributable to stockholders of $15 million a year ago. Operating income was $314.5 million compared to $213.6 million a year ago. Income before income taxes was $211.1 million compared to $72.1 million a year ago. Net loss attributable to stockholders of the company after deduction of dividends on preferred stock was $148.1 million or $0.52 per basic and diluted share on total revenue of $1,241.9 million, compared to $0.7 million on total revenue of $1,134.5 million, a year ago. Adjusted EBITDA was $748.8 million compared to $641.7 million a year ago. Net cash provided by operating activities was $393.7 million compared to $345.8 million a year ago. Capital expenditures were $111.3 million compared to $342.7 million a year ago The company provided earnings guidance for the fourth quarter of 2009 and full years of 2009 and 2010. For the quarter, the company expects adjusted EBITDA of $259 million to $264 million; sustaining capital expenditures of $10 million to $12 million; recurring cash flow of $129 million to $134 million. The company expects net loss per share to be in the range of $0.05 to net income per share $0.02. The company expects net loss to be in the range of $10 million to net income of $12 million. The company expects Adjusted EBITDA to be in the range of $259 million to $259 million. For the full year 2009, the company expects adjusted EBITDA of $1,008 million to $1,013 million; sustaining capital expenditures of $26 million to $28 million; recurring cash flow of $536 million to $541 million. The company expects net loss per share to be in the range of $0.58 to $0.49. The company expects net loss to be in the range of $144 million to $121 million. The company expects Adjusted EBITDA to be in the range of $1,008 million to $1,013 million. For the full year 2010, the company expects adjusted EBITDA of $1,095 million to $1,115 million; sustaining capital expenditures of $27 million to $32 million; recurring cash flow of $612 million to $632 million. The company expects net loss per share to be in the range of $0.06 to net income per share $0.24. The company expects net income to be in the range of $5 million to $89 million. The company expects Adjusted EBITDA to be in the range of $1,095 million to $1,115 million.