Deals
American Tower Will Buy NII Holdings Sites for $811 Million
This article is for subscribers only.
American Tower Corp., the largest U.S. operator of mobile-phone towers, agreed to acquire almost 4,500 wireless sites from NII Holdings Inc. in Brazil and Mexico for a total of $811 million.
Under the terms of the deal, NII’s Brazilian and Mexican units will lease back the towers from American Tower for at least 12 years, according to a statement today. The assets will generate about $149 million in annual revenue and $55 million in gross margin, American Tower said.