In a move that almost doubles its portfolio in Mexico, American Tower Corporation is set to acquire up to 2,500 towers from Telefonica’s local subsidiary for about US$500 million.
Under the terms of the agreement, American Tower expects to acquire…
In a move that almost doubles its portfolio in Mexico, American Tower Corporation is set to acquire up to 2,500 towers from Telefonica’s local subsidiary for about US$500 million.
Under the terms of the agreement, American Tower expects to acquire “a substantial majority” of the towers during the fourth quarter of 2011, subject to regulatory approval and customary closing conditions.
James Taiclet, chief executive of American Tower – which owns and operates about 40,000 communications sites in the US, Mexico, South America and South Africa – said the deal further strengthens its relationship with the multinational Spanish provider.
“[The acquisition] provides us with a highly desirable network of sites in this key market,” he said. “We believe that our experienced local management team will secure strong growth on these towers as our customers in Mexico deploy new spectrum and next generation wireless technologies.”
