You would think it would be easy to count telecom towers, right? Big lump of concrete with a hundred feet of steel sticking out of it – fairly conspicuous, right? Given the blood, sweat and tears invested to navigate one of the world’s most notorious permitting regimes, not to mention the investment of US$100,000 or so, you’d imagine we’d know how many towers were in Brazil, right? Yet asset registers in Brazil are as inaccurate as anywhere and, try as we might, TowerXchange just cannot make a Brazilian tower count add up to the 70,000 towers everyone seems to think are in the country.