Goldman Joins Patria in Telecom Building Boom: Corporate Brazil

Goldman Sachs Group Inc. and Patria Investimentos SA are poised to benefit from a telecommunications building boom in Brazil as mobile-phone providers need companies to construct towers costing $320 million to $820 million.

Goldman, Patria and at least six other private-equity firms are backing five local tower builders as phone operators from Tim Participacoes SA to Telefonica Brasil SA shift from constructing their own towers to contracting the work out. Operators will seek bids to build about 3,900 towers, more than half the 6,680 new towers needed in 2014 to improve networks, according to forecasts from one of the builders, who asked not to be identified because the estimates aren’t public.