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dDT

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dDT

Re: dDT post# 43113

Saturday, 11/22/2014 4:25:23 AM

Saturday, November 22, 2014 4:25:23 AM

Post# of 53906
AMT buying TIM's tower portfolio for $1.2B

American Tower (NYSE:AMT) is buying 6,480 towers from TIM Participacoes (NYSE:TSU) for R$3B ($1.2B), slightly more than the ~$1.1B previously reported by Reuters. AMT "intends to finance the acquisition in a manner consistent with its previously announced leverage targets."
The towers are expected to produce R$435M/year ($171M/year) in revenue, and R$191M/year ($75M/year) in gross margin. TIM has agreed to 20-year leases for the towers, and will act as their anchor tenant.
AMT has already bought Brazilian towers from NII Holdings, and acquired local tower owner BR Towers. The company also bought 666 Brazilian towers in 2011, a transaction Muddy Waters took aim at.
Altogether, AMT owned/operated 69.5K towers at the end of Q3.

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