American Tower CFO Has Optimistic Outlook For Latin American TowersComments Off on American Tower CFO Has Optimistic Outlook For Latin American Towers
Recently, American Towers reached an agreement with NII Holdings, Inc. to acquire 2,790 towers in Brazil and 1,666 towers in Mexico. Tom Bartlett, CFO of American Tower, spoke at the Oppenheimer 16th Annual Technology, Internet & Communications Conference today and spoke about their recent transactions.
“We feel really good about being able to lease that particular portfolio,” Bartlett said when asked if American Tower would have problems leasing space on their newly acquired towers. American Tower is in 5 markets in Latin America: Mexico, Brazil, Chile, Colombia, and Peru.
While these networks are largely 3G, Bartlett believes they will utilize the 4G technology very soon. “4G hasn’t been started yet, but they will. Expect to see some 4G activity in the next two years. The technology in these markets is two cycles behind the US.”
Bartlett also believes there will be an increase in towers in the United States. “We’re starting to see an increase in leasing activity in the U.S.,” he said. As space on the current towers decreases, new cell towers will need to be constructed in order to keep up with demand.
“I think this decade will be the decade where 4G is prominently deployed,” Bartlett explained. While 4G is available in a lot of cities, it’s not currently offered everywhere or with every mobile carrier.
American Tower and Tom Bartlett are, “really quite excited about portfolios themselves and their locations” and we look forward to seeing where they go in the future.