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Stock impact report

American Tower Announces Telxius Towers Transaction

American Tower Corporation (REIT) (AMT) 
Last american tower corporation (reit) earnings: 4/29 07:00 am Check Earnings Report
Company Research Source: Business Wire
BOSTON--(BUSINESS WIRE)--American Tower Corporation (NYSE: AMT) today announced that it has entered into definitive agreements with Telefónica, S.A. (“Telefónica”), under which it will acquire Telxius Towers, comprising approximately 31,000 existing communications sites in Germany, Spain, Brazil, Chile, Peru and Argentina. The total consideration for the transaction is approximately €7.7 billion (approximately $9.4 billion at current foreign exchange rates), subject to customary closing adjustments. In addition, American Tower expects to spend approximately $500 million to construct a committed pipeline of approximately 3,300 new sites in Germany and Brazil through 2025.Tom Bartlett, American Tower’s Chief Executive Officer stated, “This transaction is transformational for our European business and will establish American Tower as one of the largest independent communications infrastructure providers in Europe. It is also complementary for our Latin American portfolio and position Show less Read more
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