Tower transactions in LatAm gain pace
American Tower and Nextel
American Tower is once more in the news for its recent acquisition from NII Holdings (operating in Latin America as Nextel) of 1,483 towers in Mexico for approximately US$374.3 million. With more than 7,000 towers and an early market entry dated back to 1999, AMT is the leading tower company in Mexico.
Moreover, the deal between NII Holdings and AMT includes 2,790 towers in Brazil which were sold for US$413 million. AMT has acquired and operates more than 5,000 towers in Brazil since its entry in 2000.
The deal includes a 12 year lease back clause for Nextel with the option to extend the lease for additional renewal periods.