Brazilian regional operator Algar Telecom has agreed to a ten-year sale and leaseback of 125 towers to Highline do Brasil Infraestrutura de Telecomunicacoes in a deal worth R$64m.
Proceeds from the deal, which is subject to regulatory and customary…
Brazilian regional operator Algar Telecom has agreed to a ten-year sale and leaseback of 125 towers to Highline do Brasil Infraestrutura de Telecomunicacoes in a deal worth R$64m.
Proceeds from the deal, which is subject to regulatory and customary approvals, will be used to implement its long-term investment plan.
Highline will be responsible for the towers’ maintenance.
Minas Gerais-based Algar competes with Telefonica’s Vivo, Telecom Italia-owned TIM Brasil, local operator Oi, and Nextel Brasil, a unit of NII Holdings, which recently emerged from bankruptcy proceedings and has indicated that would concentrate its future investments in Brazil.