American Tower Moves into NigeriaComments Off on American Tower Moves into Nigeria
American Tower was busy last week. On Friday, the announced their acquisition in Brazil, and yesterday, the company reported they had entered into a definitive agreement with Bharti Airtel International for the sale of over 4,8000 communication towers in Nigeria. Airtel will be the anchor tenant on the portfolio under a lease with a ten-year initial term. “We are pleased to announce the launch of our operations in Nigeria while expanding our relationship with Airtel, one of the leading multinational operators in the world,” said Jim Taiclet, Chairman, President and Chief Executive Officer of American Tower. “With the largest population and economy in Africa and relatively underdeveloped wireless infrastructure, we view Nigeria as a tremendous growth opportunity. Further, we expect this investment to support our long-term objective of generating double-digit AFFO per share growth for our stockholders.” Continue reading here.