Showing posts with label American Tower. Show all posts
Showing posts with label American Tower. Show all posts

Thursday, November 5, 2020

American Tower to acquire InSite, adding 3,000 communication sites

American Tower agreed to acquire InSite Wireless Group, which owns, operates and manages approximately 3,000 communications sites, primarily in the U.S. and Canada, for approximately $3.5 billion.

Insite's portfolio includes more than 1,400 owned towers in the U.S., over 200 owned towers in Canada and approximately 70 distributed antenna system (“DAS”) networks in the U.S. In addition, InSite controls more than 600 land parcels under communications sites as well as approximately 400 rooftop sites.

Tom Bartlett, American Tower’s Chief Executive Officer stated, “This transaction augments our foundational U.S. business through the addition of a well-run, high-quality, complementary, macro-tower focused portfolio, while also marking our entry into Canada. We believe that these assets are positioned to enhance our organic growth and cash flow trajectory in the future as 5G deployments accelerate and densification initiatives progress.”

“Nearly two decades ago, we set a goal to build a leader in wireless communications by providing critical infrastructure to wireless carriers and other customers,” said David E. Weisman, co-founder and CEO of InSite. “On behalf of InSite, I want to thank our customers, employees, and investors for their support and partnership over the years in building InSite into where it is today. We believe the acquisition of InSite by American Tower will result in even greater benefits for our customers in the future.”

American Tower expects the assets to generate approximately $150 million in property revenue and approximately $115 million in gross margin in their first full year in its portfolio. 

http://www.americantower.com

  • American Tower currently controls a portfolio of 181,000 communication sites.

Tuesday, September 15, 2020

T-Mobile US signs 15-year lease with American Tower

 T-Mobile announced a 15-year agreement to lease sites from American Tower across the United States. Financial terms were not disclosed.

The companies said the new agreement allows T-Mobile to increase momentum on its rapid 5G deployment, adding coverage and enhancing speed in thousands of cities and towns across the country.

“Wireless mobility has never been more critical for consumers and businesses alike, and as technology continues to advance into 5G and beyond, that will only increase,” said Neville Ray, President of Technology at T-Mobile. “Through our multiyear agreement with American Tower, we’ve secured T-Mobile’s ability not only to accelerate our aggressive 5G build, but also to continue to deliver connectivity for our customers well into the future.”

“We look forward to strengthening our valued partnership with T-Mobile through this mutually beneficial, long-term agreement,” said Tom Bartlett, CEO, American Tower Corporation. “We’re excited to help T-Mobile deploy next-generation 5G service across the country quickly and efficiently by utilizing our extensive nationwide portfolio of communications sites.”

https://www.americantower.com/investor-relations/investor-presentations/


Monday, March 16, 2020

American Tower names new CEO, CFO

American Tower Corporation named Tom Bartlett as its new CEO, replacing Jim Taiclet as President and Chief Executive Officer.

Bartlett has served as American Tower’s Executive Vice President and Chief Financial Officer for over ten years, joining the company from Verizon Communications in April 2009 after a career there of more than 25 years.

Taiclet joined American Tower in 2001 as President and Chief Operating Officer and became its Chief Executive Officer and Chairman in 2003, succeeding company founder Steven Dodge.  Taiclet will continue as executive Chairman until the Company’s 2020 annual meeting, after which point, Pamela Reeve, the company’s current lead independent director, will become non-executive Chair of the Board, subject to her re-election as a director at the annual meeting. Following his departure from American Tower, Mr. Taiclet, who currently serves on the Board of Lockheed Martin, will become its President and Chief Executive Officer, replacing Marillyn Hewson.

Tom Bartlett, American Tower’s new President and Chief Executive Officer, stated, “It has been an incredible honor and privilege to work closely with Jim for more than ten years and I want to thank him for his tremendous leadership of our company. It’s an exciting time for American Tower. Not only are we well-positioned to capitalize on the continuing secular growth trends in mobile on a worldwide basis, but we also have a proven leadership team and dedicated employees throughout our markets to meet the needs of our diverse stakeholders. It’s an honor for me to lead a company that will play such an important role in the digital future.”

Sunday, January 12, 2020

American Tower pursues infrastructure in Ghana and Uganda

by Benedict Chua, Assistant Editor

American Tower has reached an agreement to acquire with MTN Group's minority stakes in joint ventures in Ghana and Uganda for total consideration of approximately $523 million. The transaction is expected to close in the first quarter of 2020, subject to regulatory approval, and will result in a one-time impact for American Tower of approximately $65 million in 2020 from the payment of previously deferred cash interest related to joint venture debt.

In addition, American Tower recently closed its previously announced acquisition of Eaton Towers, adding approximately 5,700 communications sites to its African portfolio. Total consideration for the acquisition, subject to certain post-closing adjustments, was approximately $1.85 billion.

American Tower to acquire 5,500 sites in five African markets

American Tower agreed to acquire Eaton Towers, which owns and operates approximately 5,500 communications sites across five African markets, for approximately $1.85 billion. American Tower expects to accelerate new build activity across the region due to expanded relationships with multiple key tenants.

The Eaton towers are located in Ghana, Uganda, Kenya, Burkina Faso and Niger. Eaton Towers was co-founded in 2009 by Terry Rhodes, CEO. Alongside the majority shareholder, Capital International, investors include Development Partners International, Ethos and Standard Chartered.

American Tower said the Eaton assets are expected to generate approximately $260 million in property revenue and approximately $165 million in gross margin, at current exchange rates, in their first full year in American Tower’s portfolio.

Jim Taiclet, American Tower’s Chief Executive Officer stated, “This transaction will significantly augment our existing footprint in Africa and positions ATC to take even better advantage of the growth opportunity in the region as 4G mobile data technology is deployed to serve millions of Africans over the coming years.”

http://www.americantower.com

  • American Tower's global portfolio includes more than 177,000 sites.

Tuesday, December 17, 2019

Orange teams with American Tower on new mobile sites in France

Orange, the leading mobile network operator in France, and ATC France, a subsidiary of American Tower Corporation, signed an agreement concerning the deployment of between 900 and 2,000 new mobile network sites located mainly in rural areas and along transport routes over the period 2020-2024.

Orange and ATC France have been working together since 2012 for the deployment and operation of mobile network infrastructure and have thus further reinforced that existing partnership. This agreement makes it possible for ATC France and Orange to pool their expertise for the benefit of their customers and to improve network coverage in France.

The contract with ATC France will enable Orange to support the accelerated deployment of its mobile network and increase the density of its coverage. It will achieve this while allowing Orange to maintain its expertise in the design and construction of network infrastructure and ensuring that the Group retains the necessary mid-term investment capacity to consolidate its leadership across the entire network.

A 20-year hosting service agreement between the two partners means that Orange will benefit from the excellence of ATC France's management and marketing services for mobile network infrastructure and will therefore ensure that the quality of its services across the country will be maintained.

ATC France hosts nearly 5,500 operator contracts across the totality of its sites in operation. Strengthening its partnership with Orange is fully in line with its infrastructure development strategy for its customers and will support the deployment of digital services across the country.

Fabienne Dulac, Deputy CEO of the Orange Group and CEO of Orange France, said: "The nationwide deployment of the network, particularly in rural areas, is a priority for Orange.  We are delighted to be able to enter into this agreement with ATC France, which has proven expertise in terms of infrastructure management. This partnership will enable us to accelerate deployment in these key areas while retaining our capacity for differentiation and our ability to invest in the networks, whether they are fixed or mobile."

Tuesday, September 3, 2019

AT&T and American Tower enter long-term agreement

AT&T and American Tower Corporation signed a new long-term agreement that streamlines wireless network deployments on American Tower’s U.S. sites, enhancing AT&T’s deployment of 5G and other next-generation technology across the U.S., including FirstNet, public safety’s dedicated, nationwide communications platform. Financial terms were not disclosed.

American Tower's portfolio extends to approximately 171,000 communications sites.

“This comprehensive agreement is expected to drive mutual value and growth through a simplified leasing process designed to drive efficiency and flexibility improvements directly benefitting our speed in deploying the latest technologies,” said JR Wilson, Vice President of Tower Strategy and Roaming, AT&T. “This is essential for executing on both our 5G and FirstNet network builds. It ultimately helps us better serve our customers and first responders nationwide.”

“We look forward to this new phase of our long-standing relationship with AT&T,” said Steve Vondran, President - U.S. Tower Division, American Tower Corporation. “This agreement provides for an extended mutually rewarding strategic relationship, and we’re excited to help AT&T deliver the next generation of wireless technology to consumers, businesses and first responders quickly and efficiently.”


Thursday, May 30, 2019

American Tower to acquire 5,500 sites in five African markets

American Tower agreed to acquire Eaton Towers, which owns and operates approximately 5,500 communications sites across five African markets, for approximately $1.85 billion. American Tower expects to accelerate new build activity across the region due to expanded relationships with multiple key tenants.

The Eaton towers are located in Ghana, Uganda, Kenya, Burkina Faso and Niger. Eaton Towers was co-founded in 2009 by Terry Rhodes, CEO. Alongside the majority shareholder, Capital International, investors include Development Partners International, Ethos and Standard Chartered.

American Tower said the Eaton assets are expected to generate approximately $260 million in property revenue and approximately $165 million in gross margin, at current exchange rates, in their first full year in American Tower’s portfolio.

Jim Taiclet, American Tower’s Chief Executive Officer stated, “This transaction will significantly augment our existing footprint in Africa and positions ATC to take even better advantage of the growth opportunity in the region as 4G mobile data technology is deployed to serve millions of Africans over the coming years.”

http://www.americantower.com

  • American Tower's global portfolio includes more than 170,000 sites.

Sunday, May 5, 2019

American Tower: U.S. organic tenant billings growth over 8%

American Tower Corporation reported revenue of $1.813 billion for the quarter ended March 31, 2019, up 4.1% over the same period last year. Net income was $408 million, up 45.4%.

The company said it continues to benefit from the general trend of more equipment deployed on its towers.

Jim Taiclet, American Tower’s Chief Executive Officer, stated, “We began 2019 with a solid quarter of results, highlighted by strong global leasing activity, 8.2% Organic Tenant Billings Growth in the U.S., the construction of more than 700 new sites and a 20% dividend increase.

We remain focused on driving operational excellence, prudently deploying capital and leveraging our innovation program to capitalize on exciting future opportunities as wireless networks continue to advance. With our portfolio of more than 170,000 towers, small cell systems and other communications real estate, we believe we are well positioned to take advantage of the global demand trends in mobile to continue driving attractive growth and returns for years to come.”


Some highlights:

  • The company now has approx. 170,000 sites worldwide
  • U.S. organic tenant billings growth was over 8%
  • Certain wireless carriers in India are in the process of, or have recently concluded, merging their operations or exiting the marketplace, and the company’s operational and financial results during the first quarter of 2019 were impacted by churn driven by this carrier consolidation process.
  • Total capital expenditures were $231 million, of which $32 million was for non-discretionary capital improvements and corporate capital expenditures. 
  • American Tower spent approximately $91 million for the acquisition of 107 communications sites, located primarily in international markets, and other communications infrastructure assets.

http://www.americantower.com/investor-relations/



Tuesday, May 1, 2018

American Tower reports robust demand as sales grow 7.8% yoy

American Tower reported revenue of $1.742 billion for Q1 2018, up 7.8% over last year.

“The strong demand we experienced in late 2017 for our telecommunications real estate further accelerated in the U.S. as well as in our Latin America and EMEA regions in the first quarter of 2018. Notably, record levels of new business commencements, along with a robust pipeline of applications for both amendments and new colocations resulted in our increase in expectations for full year U.S. Organic Tenant Billings Growth to approximately 6.5% in 2018," stated Jim Taiclet, American Tower’s Chief Executive Officer.

During Q1, American Tower spent approximately $673 million to acquire nearly 10,600 sites primarily in international markets, including approximately 10,200 sites in India as part of its previously announced transaction with Vodafone India Limited.

Tuesday, March 13, 2018

The tower companies will let us know when 5G rollouts gets real - part 2

Preamble: Network densification is a key premise of 5G architecture. Once the rollouts of 5G networks begin in earnest, we should expect to see many more cell sites in urban areas across the world, so one way to measure the progress of 5G rollouts will be to keep an eye on the companies that actually will handle the deployment of physical equipment on the streets.
American Tower is one of those companies.

At this week’s Mobile World Congress, American Tower, in partnership with Philips Lighting, is announcing a street ¬¬¬pole designed to meet the capacity challenges in dense urban centres. This “Smart Fusion Pole” combines LED street lighting with mobile connectivity. Integrated antennas are concealed and can support services from multiple mobile operators on a single pole. American Tower says the design is 5G and IoT ready.

The City of Huntington Beach, California will be the first to deploy this street pole from American Tower, which has an agreement with the city for exclusive access to 200 smart pole locations. It is a start.

Although we do not know the financial terms of such an agreement, cities will soon realize that the cost of upgrading their street infrastructure in an aesthetically pleasing fashion, in this case street lights, can be paid for by the mobile industry. If the public accepts it, we could soon see thousands of such street poles even in a fairly small and lightly populated (by world standards) city such as Huntington Beach (population 200,000).

So let’s say a tower operator has 5,000 fibre-connected street poles equipped for 5G in Huntington Beach. How much can they charge Sprint or Verizon or AT&T for monthly rent? And what impact will this have on the OPEX budget of mobile operators? Will 5G networks be more costly to operate and maintain than 4G?

Expansion in Mexico

In November, American Tower American Tower acquired a subsidiary of KIO Networks that controls more than 50,000 concrete poles and approximately 2,100 route miles of fiber. The purchase price was $500 million in cash. Most of these facilities are located in dense urban areas. Mexico’s population tends to be more urban than rural.

KIO Networks is one of the major data center operators in Mexico. The company is owned by Maria Asuncion Aramburuzabala, whose family holds investments in many industrial sectors of the country.



Mexico’s Red Compartida project

Mexico’s Red Compartida (shared network) project is a private-public initiative that aimed to break-up the dominance of America Movil by providing a shared infrastructure that would allow competition in mobile services to grow. Red Compartida is sometimes described as the largest construction of a new public access network in the world, although it is eclipsed by the FirstNet emergency response project in the U.S. The primary contractor for the project is ALTÁN Redes.

Key facts of the initiative include:

•   Red Compartida will only offer wholesale mobile services.

•   Red Compartida will build a new national network covering at least 92.2% of the population.

•   Red Compartida's largest investor at 33% is Marapendi Holding BV, an indirect subsidiary of North Haven Infrastructure Partners II, an infrastructure fund with a value-add strategy to invest in OECD countries around the world, managed by Morgan Stanley Infrastructure; Caisse de dépôt et placement du Québec(CDPQ), one of North America's largest pension fund manager holds a 12.68% share; Mr. Miguel S. Escobedo holds a 9.35% share; and Mr. Eugenio Galdón, Chairman of Multitel, holds a 3.34% share.

•   Axtel and Megacable also hold a stake in ALTÁN Redes through a series of non-voting shares and without involvement in management; each has a participation of 4.01%.

•   In March, ALTÁN Redes selected Huawei and Nokia as turn-key technology providers for Red Compartida, a pure IP + LTE network.

•   Huawei technology will be used for central and southern Mexico (telecommunications regions 6 to 9), as well as providing the backbone.

•   Nokia's technology will be rolled out in the northern part of the country (regions 1 to 5). Nokia will also supply the network Core, which includes the Network Operation Center (NOC) and Security Operation Center (SOC).

As of 30-January-2018, ALTÁN Redes confirmed that the project was on target to begin operations with 30 percent coverage of Mexico’s population by 31-March-2018.

Presumably, American Tower’s newly acquired facilities will play some role, as that is the basis of the acquisition, but it remains to be seen how the economics of Red Compartida will ultimately play out. The key question ultimately is if smaller competitors will be able to challenge America Movil, and if AT&T Mexico will be able to participate in Red Compartida, and if so, to what extent it does so.

One interesting observation is the presence of Huawei as a principal vendor for Red Compartida – could that be an obstacle for AT&T Mexico?

Monday, November 20, 2017

American Tower buys network infrastructure in Mexico

American Tower Corporation completed its previously announced acquisition of KIO Networks’ infrastructure subsidiary in Mexico. The deal includes more than 50,000 concrete poles and approximately 2,100 route miles of fiber, primarily located in Mexico’s key urban centers. The price was approximately $500 million in cash.

Hal Hess, American Tower’s EVP and President, EMEA and Latin America, stated, “We are pleased to close this transaction, which we expect not only to enhance the value of our existing tower portfolio in Mexico, but also to better position American Tower to capture a larger share of future urban 4G network densification efforts and the eventual rollout of 5G.”

Citigroup acted as American Tower's exclusive financial adviser and Kilpatrick Townsend & Stockton and Holland & Knight as its legal advisers.

American Tower, one of the largest global REITs, has a portfolio of approximately 149,000 communications sites.

Thursday, October 27, 2016

American Tower Looks to Europe for Opportunities

American Tower, a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 144,000 tower sites, will form a joint venture with Dutch pension fund manager PGGM to develop telecommunications real estate investment opportunities in select European countries. The new company will be called ATC Europe.  American Tower will contribute its German assets into ATC Europe and PGGM will acquire a 49% interest in ATC Europe. American Tower will retain operational control and day-to-day oversight of ATC Europe.

"We are pleased to be able to enter into this partnership with PGGM,” said James D. Taiclet, Jr., American Tower’s Chairman, President and Chief Executive Officer. “We believe that the combination of PGGM’s long-term investment philosophy and extensive knowledge of the European landscape with American Tower’s proven track record of investing in and operating telecommunications real estate assets will establish a compelling platform for future investment opportunities."

http://www.americantower.com/

Thursday, February 5, 2015

American Tower to Acquire 11,489 Towers from Verizon

American Tower Corporation agreed to acquire rights to approximately 11,324 wireless communications towers and purchase approximately 165 additional towers from Verizon Communications for $5.056 billion in cash. The portfolio of approximately 11,489 towers spans all 50 states with approximately 50% of the sites in the top 100 BTAs. The average height of the tower portfolio is approximately 190 feet, with capacity for incremental colocation.

Under the deal, American Tower will have the exclusive right to lease and operate the Verizon towers for a weighted average term of approximately 28 years. In addition, American Tower will have fixed price purchase options to acquire the towers based on their anticipated fair market values at the end of the lease terms. Verizon will sublease space on the towers for a minimum of 10 years with monthly rent of $1,900 per site and fixed annual rent escalators of 2%.

American Tower said the deal, in combination with its legacy footprint, will give it the largest wireless communications real estate portfolio in the United States with over 40,000 tower sites. This transaction expands and strengthens American Tower’s relationships with major U.S. wireless operators, and 85% of pro forma domestic rental and management revenue will be generated by the Big Four U.S. carriers.

“The Verizon tower portfolio is a unique asset. Due to outstanding design and management by the Verizon Wireless network operations team, the portfolio boasts a number of key attributes that we believe will facilitate robust leasing opportunities under our focused management. These attributes include average tower heights approaching 200 feet, ample structural capacity and ground space, very attractive transmission locations with relatively few competing sites, a solid ground lease profile, and excellent documentation and technical information. By acquiring access to this high quality asset base, American Tower will be well positioned to capture incremental leasing activity and extend our ability to drive strong annual organic core growth and solid AFFO per share growth, well into the future,” stated Jim Taiclet, American Tower’s Chief Executive Officer.

American Tower estimates that the Verizon tower portfolio will generate approximately $410 million in domestic rental and management revenue, approximately $235 million in gross margin and will be break-even to AFFO per share in its full first year of operation, and accretive thereafter.

http://www.americantower.com/corporateus/investor-relations/press-releases/index.htm

Tuesday, November 25, 2014

American Tower to Acquire Bharti Airtel's Towers in Nigeria

American Tower agreed to acquire over 4,800 communications towers in Nigeria from Bharti Airtel.

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.”

Commenting on the development, Christian de Faria, MD and Chief Executive Officer of Bharti Airtel Africa, said, “Nigeria is the largest mobile market in Africa and a key one for Airtel. This agreement, which is part of our stated philosophy of promoting infrastructure sharing, will provide us with considerable cost efficiencies and at the same time allows us to sharpen our focus on the customer. American Tower has a proven track record in passive infrastructure management and we look forward to benefitting from the best practices from all other countries it operates in."

http://www.americantower.com

American Tower to Acquire TIM Celular's Towers in Brazil

American Tower agreed to acquire two portfolios of towers in Brazil from TIM Celular S.A., which is owned by Telecom Italia S.p.A..

The first portfolio includes approximately 5,240 towers. The second portfolio includes approximately 1,240 towers, which are subject to certain preemptive acquisition rights held by third parties. The total consideration is expected to be approximately 3.0 billion Brazilian Reais (approximately $1.2 billion at the current exchange rate), subject to customary adjustments. American Tower intends to finance the acquisition in a manner consistent with its previously announced leverage targets.

American Tower anticipates that the towers will generate approximately 435 million Brazilian Reais (approximately $171 million at the current exchange rate) in annual run rate revenues (which includes ground rent pass-through and existing collocation revenue), and approximately 191 million Brazilian Reais (approximately $75 million at the current exchange rate) in annual gross margin. TIM will be the anchor tenant on each portfolio under leases with 20-year initial terms.

http://www.americantower.com

Sunday, September 8, 2013

American Tower to Acquire Global Tower Partners for $4.8 Billion

American Tower Corporation agreed to acquire 100% of the outstanding common membership interests of MIP Tower Holdings LLC, a private real estate investment trust, which is the parent company of Global Tower Partners, for approximately $4.8 billion.

GTP owns and operates approximately 5,400 towers across the U.S., 800 domestic property interests under third-party communications sites, and has management rights to over 9,000 domestic sites, which are primarily rooftop assets. In addition, GTP owns 500 communications sites in Costa Rica.

The deal increases American Tower's U.S. portfolio by 25%, strengthening its presence in top 10 markets, including New York, San Francisco and Washington D.C.

GTP's Revenue Sources:
AT&T - 25%
Sprint - 17%
T-Mobile - 16%
Verizon - 12%
Other - 30%

“GTP has constructed and acquired an outstanding U.S. portfolio of tower, rooftop and land assets, which is highly complementary to that of American Tower. Moreover, GTP’s management of these assets has been excellent, as confirmed through our rigorous due diligence process. GTP’s towers boast a high quality customer base, a strong position with respect to ground ownership and lease terms, and additional structural capacity available to facilitate future leasing activity.

With all four major domestic wireless carriers engaged in aggressive multi-year 4G LTE deployments, we believe our acquisition of GTP solidifies our path to achieving our strategic goals related to growing our AFFO over the next five years,” said Jim Taiclet, Chairman, President and Chief Executive Officer of American Tower.

American Tower will pay using approximately $3.3 billion in cash and the assumption of approximately $1.5 billion of existing indebtedness.
American Tower expects to use cash on hand and borrowing capacity under its existing revolving credit facilities, as supplemented by additional anticipated sources of debt financing, to satisfy the cash consideration for this acquisition and other previously announced acquisitions. American Tower intends to maintain its financial and capital structure policies, consistent with investment grade credit metrics, and expects to use the quality cash flow and margin characteristics of the GTP portfolio to de-lever over time back to its stated target leverage range.

American Tower expects that in aggregate, in 2014, the portfolio will generate approximately $345 million in revenues and approximately $270 million of gross margin, and is anticipated to be immediately accretive to Adjusted Funds From Operations (“AFFO”) upon closing.

http://www.americantower.com

Last month, American Tower Corporation agreed to acquire up to 2,790 towers in Brazil and 1,666 towers in Mexico from NII Holdings for approximately $413 million and $398 million, respectively.

American Tower said the majority of the portfolio consists of towers located in and around major population areas and along major highways. On average, the towers have a tenancy ratio of just over one tenant per tower, with Nextel Brazil or Nextel Mexico as the primary tenant, providing significant opportunities for future site leasing growth.

Both Nextel Brazil and Nextel Mexico have agreed to leaseback the towers from American Tower for a minimum 12-year initial lease term with additional renewal options thereafter. NII International Telecom S.C.A, a subsidiary of NII based in Luxembourg, has agreed to provide certain credit support with respect to the obligations of Nextel Brazil.

Saturday, August 10, 2013

American Tower Acquires Tower Sites in Mexico and Brazil

American Tower Corporation will acquire up to 2,790 towers in Brazil and 1,666 towers in Mexico from NII Holdings for approximately $413 million and $398 million, respectively.

American Tower said the majority of the portfolio consists of towers located in and around major population areas and along major highways. On average, the towers have a tenancy ratio of just over one tenant per tower, with Nextel Brazil or Nextel Mexico as the primary tenant, providing significant opportunities for future site leasing growth.

Both Nextel Brazil and Nextel Mexico have agreed to leaseback the towers from American Tower for a minimum 12-year initial lease term with additional renewal options thereafter. NII International Telecom S.C.A, a subsidiary of NII based in Luxembourg, has agreed to provide certain credit support with respect to the obligations of Nextel Brazil.

"Through this acquisition, American Tower will gain significant incremental scale in our Mexican and Brazilian operations, and we anticipate leveraging the strong demand backdrop in both markets to drive meaningful revenue and cash flow growth for many years to come," stated Jim Taiclet, Chairman, President and Chief Executive Officer of American Tower.

American Tower currently owns and operates over 56,000 communications sites in the United States, Brazil, Chile, Colombia, Germany, Ghana, India, Mexico, Peru, South Africa and Uganda.

http://www.americantower.com