SÃO PAULO (BDCi) – The American Tower Corporation acquired a Brazilian cellphone tower company called BR Towers for about $978 million on Sunday (15).
The transaction is American Tower’s latest move to expand in Brazil and capitalize on its demand for better cellphone infrastructure.
With approximately 70,000 cellphone towers in Brazil, there are 4,000 users per tower, while there are about 1,000 users per tower in the U.S.
As local telecommunications companies seem uninterested in owning towers, the market has been active.
BR Towers, backed by the private equity firm GP Investments, operates over 4,300 towers in Brazil and is a former competitor of American Tower.
American Tower expects to close the transaction in the fourth quarter of this year.
By: Diego Díaz Source: NY Times Photo: TeleSemana 17 June 2014
9:05 a.m. P.D.T.