Tom Bartlett, the CFO of US broadcast and wireless operator American Tower, has said that his company’s expansion into Latin America is key to its future growth and performance. The company recently bought 113 wireless towers from Telefonica Chile and…
Tom Bartlett, the CFO of US broadcast and wireless operator American Tower, has said that his company’s expansion into Latin America is key to its future growth and performance. The company recently bought 113 wireless towers from Telefonica Chile and plans to acquire 174 more for US$17m by the end off the year. The company has also just struck a major deal in Mexico and looking for further opportunities in Chile as VTR and Nextel enter the market on the back of their 3G spectrum auction wins in the country, with further tranches of 4G spectrum to come. He said: “Simply put, we’re excited about our new market and expect to add through new site construction and select acquisitions to further build our portfolio. Our expansion into Chile will over time provide a nice compliment to our existing Latin American markets.” Bartlett was speaking in an investor’s conference call that discussed the company’s latest results. American Tower’s net profit rose to US$99.8m in Q2’10 from US$56m from the corresponding period in 2009. Revenue increased to US$456m in the quarter compared to US$406m a year ago.
