American Tower acquires TIM portfolio in Brazil
Reinforcing its leading position in Latin America and beyond
Just when we thought 2014 was going to remain a relatively quiet year for the CALA tower industry, American Tower delivered some much needed excitement with the acquisition of TIM towers in Brazil for a reported US$1.2bn in a sale and leaseback (SLB) deal.
TIM’s willingness to sell their passive infrastructure assets had been rumoured for quite some time and, with the current strength of the US dollar offering a virtual discount, this deal wasn’t a real surprise. American Tower was always the most likely a potential buyer and the company has consolidated their position as the largest towerco in Brazil and in the CALA region.