American Tower and Tigo seal sale and leaseback deal in Paraguay
Paraguay opens its doors to towercos
Millicom’s Tigo has agreed to sell around 1,400 of its 2,000 Paraguayan towers to American Tower for an approximate US$125mn. Under the terms of the agreement, American Tower will lease back to Tigo and the deal is expected to create considerable savings to the MNO, which has committed to several investments in the country. The exact number of towers and final price will be determined once the various closings have taken place, which are subject to customary closing conditions.