Zayo Said to Vie for Crown Castle Unit as TPG Talks Cool (1)

Zayo Group Holdings Inc. is negotiating a potential purchase of Crown Castle Inc.’s fiber business after talks with rival bidder TPG Inc. cooled, people with knowledge of the matter said.

Discussions with Zayo picked up pace after talks broke off with TPG, the people said, asking not to be identified because the information is private. Zayo’s offer topped that of TPG, and a deal for Crown Castle’s entire fiber business could be valued at more than $8 billion, according to the people.

There’s no certainty a deal will be reached. Crown Castle could always decide to keep the business ...