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Fitch: American Tower's Acquisitions Not Expected to Pressure Rating

2014-12-04 14:01:01| IT Services - Topix.net

Fitch Ratings has said that it believes American Tower Corporation's planned tower acquisitions in Brazil and Nigeria will have a minimal effect on its credit profile, given plans to finance the transactions within its leverage targets. AMT plans to acquire two tower portfolios in Brazil from TIM Celular.

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Airtel agrees to sell Nigeria towers to ATC

2014-11-24 13:55:00| Telecompaper Headlines

(Telecompaper) American Tower Corporation and Airtel have entered into a definitive agreement for the sale of over 4,800 of Airtel's communications towers in Nigeria. Airtel will be the anchor tenant on the portfolio under a lease with a ten-year initial term. The agreement will allow Airtel to focus on its core business and customers, enable it to deleverage through debt reduction and will significantly reduce its on-going capital expenditures on passive infrastructure in Nigeria. American Tower and Airtel expect to close the acquisition during the first half of 2015, subject to customary closing conditions and regulatory approval. Airtel Africa CEO Christian de Faria said the agreement, which is part of a stated philosophy of promoting infrastructure sharing, will provide cost efficiencies and at the same time allows the company to sharpen its focus on the customer. No financial details of the transaction were disclosed.

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TI sells Brazils towers, seeks tie ups with Oi, Metroweb

2014-11-24 08:34:00| Telecompaper Headlines

(Telecompaper) Telecom Italia has announced the sale of its Brazilian mobile phone towers for BRL 3 billion (around EUR 900 million) and confirmed that its management has been empowered to seek a possible tie up between its Brazilian unit TIM Brasil and rival operator Oi. In a statement issued after a board meeting held on 21 November, Telecom Italia said it approved the sale of 6,481 telecommunication towers in Brazil to American Tower Corp for approximately EUR 900 million, close to its target figure. At the same time, Telecom Italia announced it had mandated its management to "examine in-depth the options for a possible integration" of Tim Brasil and Oi. Without going into any details, the company simply confirmed that "the next steps, if there are to be any, will be submitted to the board for approval." In addition, Telecom Italia said that a proposal had been sent to Italian infrastructure fund F2i asking to start discussions about the acquisition of a controlling stake in Italian broadband provider Metroweb "as soon as possible". F2i currently owns a 54 percent stake in Metroweb's holding company Metroweb Italia. In its statement, Telecom Italia said it had identified Metroweb as the partner with which it could quickly create a plan to increase investment in fibre optic networks throughout Italy.

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TIM Brasil to sell towers to American Tower

2014-11-24 08:24:00| Telecompaper Headlines

(Telecompaper) TIM Brasil has approved the sale of its mobile towers for about BRL 3 billion (USD 1.2 billion) to American Tower. The first part of the transaction includes 5,240 towers. Another 1,240 towers, are subject to pre-emptive acquisition rights by the mobile operators Claro, Embratel and Americel as part of sharing agreements with TIM. If they do not exercise these rights, then America Tower will also acquire these towers. After the sale TIM will lease back space on the towers for 20 years.

Tags: american sell brasil tim