American Tower has acquired 6,480 telecom towers in Brazil from TIM Celular, a subsidiary of Telecom Italia, for $1.2 billion.
Following the completion of the deal, American Tower will generate nearly $171 million in annual revenues including ground rent pass-through and existing collocation revenue, and nearly $75 million in annual gross margin.
TIM, a leading telecom operator in Brazil, will be the anchor tenant on each portfolio under leases with 20-year initial terms.
American Tower has a global portfolio of nearly 70,000 telecom sites.
editor@telecomlead.com
