Sunday, December 11, 2011

American Tower to Buy 2,500 Towers in Mexico for $500 million

American Tower, which own and operates approximately 40,000 communications sites in the United States, Brazil, Chile, Colombia, Ghana, India, Mexico, Peru and South Africa, agreed to acquire approximately 2,500 towers from Telefonica's Mexican subsidiary, Pegaso PCS, for approximately $500 million, excluding value added tax.

James Taiclet, Chairman, President and Chief Executive Officer of American Tower, said: "We continue to strengthen our relationship with Telefonica, and this acquisition nearly doubles our portfolio in Mexico and provides us with a highly desirable network of sites in this key market. We believe that our experienced local management team will secure strong growth on these towers as our customers in Mexico deploy new spectrum and next generation wireless technologies."