Will American Tower Purchase More Towers in Brazil?Comments Off on Will American Tower Purchase More Towers in Brazil?
Bloomberg reported that Telecom Italia is working with Morgan Stanley to find potential bidders for their 7,000 towers located in Brazil. One of the potential bidders is American Tower Corporation, according to people familiar with the matter. The Brazilian assets could raise about 700 million Euros ($951 million), one of the people said. (Source: Bloomberg). In 2000, American Tower entered the Brazil market with more than 4,500 towers. In August 2013, American Tower announced they were acquiring an additional 2,790 tower sites from NII Holdings in Brazil for $413 million. Officials at American Tower Corporation declined to comment on their potential interest in these sites; however, it’s a market they are already participating in so it might be a good move for the company looking to expand their international reach.
Read more at InsideTowers.com.