The market for communication tower sharing appears to have cooled in Chile, following the enactment of Law No. 20.599 published on June 11 2012, which established regulations for the installation of antennas and transmission stations telecommunications services. Furthermore, economic headwinds from a slowdown in Chinese demand for industrial metals exports have also led to slower GDP growth and weaker investment. Despite these trends, the Chilean telecoms market maintains the strongest fundamentals in the region, backed by a favourable business environment and our outlook for the towers market is more positive over the longer term, as growth in 3G/4G services increases along with consumer spending power.
