American Tower Corp. said it has agreed to pay $182 million for up to 2,126 towers in Colombia as it looks to improve on its economies of scale in that country.
Boston based American Tower owns, operates, and develops broadcast and wireless communications sites.
In a press release, American Tower said that the seller is Millicom International Cellular S.A. Plans call for a Millicom subsidiary to sell the towers to a to be formed Colombian subsidiary of American Tower.
The towers are expected to be transferred in a series of closings beginning in the fourth quarter.
Millicom International is a telecommunications group with operations in 13 countries in Latin America and Africa.
The proposed acquisition is in keeping with Millicom’s strategy of outsourcing infrastructure so it can focus on its core activities of sales, marketing, branding, distribution, service innovation, and customer care, the release said.
Boston based American Tower owns, operates, and develops broadcast and wireless communications sites.
In a press release, American Tower said that the seller is Millicom International Cellular S.A. Plans call for a Millicom subsidiary to sell the towers to a to be formed Colombian subsidiary of American Tower.
The towers are expected to be transferred in a series of closings beginning in the fourth quarter.
Millicom International is a telecommunications group with operations in 13 countries in Latin America and Africa.
The proposed acquisition is in keeping with Millicom’s strategy of outsourcing infrastructure so it can focus on its core activities of sales, marketing, branding, distribution, service innovation, and customer care, the release said.
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