Brazilian towerco BR Towers could see new investment within the month after its parent, PE firm GP Investments, said it was in “advanced conversations” with potential partners.
“Right know the only equity investor is our fund [GP Capital Partners…
Brazilian towerco BR Towers could see new investment within the month after its parent, PE firm GP Investments, said it was in “advanced conversations” with potential partners.
“Right know the only equity investor is our fund [GP Capital Partners V], but we are in discussions with two other partners who might come in as co-investors in BR Towers to give us more resources to be able to grow the company,” GP’s co-CEO Antonio Bonchristiano said in an interview with TelecomFinance.
“We are in very advanced conversations with two other parties and we may be able to actually close these investments within the next 30 days or so.”
BR Towers was formed in September after the acquisition of 2000 towers from an unnamed operator. The towerco is aiming to increase its portfolio to 10,000 towers by 2015.
“Since we do see the opportunity to grow relatively fast, we think it’s quite important to bring more resources to bear.”
Brazil’s telecoms market is expected to grow significantly in the next few years. The government held a 4G auction in May and has set down guidelines to buildout LTE networks in time ahead of the World Cup in 2014 and the Rio Olympics in 2016.
Brazil has about 60,000 tower sites at the moment, and that is predicted to rise by a third to 80,000 by 2015.
