Brazilian telco Oi has completed the sale of 1, 641 mobile towers to SBA Communications’ local unit, SBA Torres, for R$1.172bn (US$457m).
Oi, which is currently in talks to sell its Portuguese assets to telecoms holding Altice, has already sold 4,100…
Brazilian telco Oi has completed the sale of 1, 641 mobile towers to SBA Communications’ local unit, SBA Torres, for R$1.172bn (US$457m).
Oi, which is currently in talks to sell its Portuguese assets to telecoms holding Altice, has already sold 4,100 sites to the US towerco in two separate transactions in the past 12 months.
The Rio de Janeiro-based operator has previously said that the disposal of towers would enhance its financial flexibility, allowing it to extend its debt maturities, reduce costs related to financing and strengthen its liquidity position.
SBA, which was advised on the deal by Citigroup, now has 7,000 sites in Brazil.
M&A activity in the Brazilian tower sector is currently heating up as American Tower has closed the previously-announced acquisition of Brazilian BR Towers from PE firm GP Investments and other shareholders for R$2.255bn (US$880m), and snapped up 6,481 telecoms towers from Telecom Italia for about R$3bn (US$1.2bn).
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