AT&T Inc. is the biggest phone company in the United States. The company would reach a near agreement to sell its wireless towers to Crown Castle International Corp. This was according to sources that were familiar with the matter.

The terms of the sale agreement were still being finalized. This could mean that the deal might still fall apart, said one of the sources who spoke on condition of anonymity as the talks were held private in nature. Sources also said last September that the assets could fetch approximately USD5 billion.

The sale would boost the balance sheet of AT&T after its USD14 billion network upgrade. The company had also planned a stock buyback that could top USD11 billion and would consider acquisitions in the Europe region.

AT&T had been working with TAP Advisors LLC and JP Morgan Chase & Co regarding the sale, said sources who were familiar with the transaction last September. Crown Castle was one of the least three potential interested parties. Other interested buyers included SBA Communications Corp and American Tower Corp, said sources last September.