Summary
American Tower Corporation (AMT) announced on November 9, 2016, a significant strategic expansion into the Argentinian market through the acquisition of a portfolio of urban telecommunications assets. This transaction includes wireless sites, related equipment, and fiber assets situated on utility infrastructure, alongside several indoor wireless sites. This move represents AMT's entry into Argentina and is anticipated to close within the fourth quarter of 2016, pending the satisfaction of usual closing conditions and obtaining necessary regulatory approvals. The acquisition is poised to enhance AMT's global footprint and diversify its operational base, offering potential for future growth in a new, key market.
Key Highlights
- 1American Tower Corporation (AMT) is expanding its global presence by entering the Argentinian market.
- 2The company will acquire a portfolio of urban telecommunications assets in Argentina.
- 3Acquired assets include wireless sites, equipment, and fiber assets on utility infrastructure, as well as indoor wireless sites.
- 4This transaction marks AMT's initial business operations in Argentina.
- 5The acquisition is expected to close in the fourth quarter of 2016.
- 6The deal is subject to customary closing conditions and regulatory approvals.