American Tower Corporation – AMT – Acquisition of Tower Sites from KPN in Germany
NYSE: AMT) announced that it has entered into a definitive agreement with KPN’s German subsidiary, E-Plus, under which American Tower will acquire over 2,000 KPN tower sites in Germany for an agreed upon purchase price of approximately €393 million. The transaction is expected to close in the fourth quarter of 2012, subject to customary closing conditions.
“We are pleased to announce the launch of our operations in Germany via our acquisition of sites from KPN,” said Jim Taiclet, Chairman, President, and Chief Executive Officer of American Tower. “With over one hundred million subscribers and its significant growth in wireless data demand, Germany represents the largest wireless market in Europe and an attractive complement to our overall international portfolio mix and expansion strategy. We believe these sites represent a compelling investment for American Tower with strong day one cash flows and an opportunity to drive future collocation in a stable, growing wireless market.”
About American Tower – AMT
American Tower (AMT) is a leading independent global owner, operator and developer of wireless communications sites. American Tower currently owns and operates over 50,000 communications sites in the United States, Brazil, Chile, Colombia, Ghana, India, Mexico, Peru, South Africa and Uganda.
American Tower Corporation (AMT) is a holding company. AMT conducts its operations through its directly and indirectly owned subsidiaries and joint ventures. It is a wireless and broadcast communications infrastructure company that owns, operates and develops communications sites. Its primary business includes leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. This business is its rental and management operations. It also offer tower-related services domestically, including site acquisition, zoning and permitting services and structural analysis services, which primarily support its site leasing business and the addition of new tenants and equipment on its sites. In January 2012, the Company merged with and into American Tower REIT, Inc.
About E-Plus
With 15 million customers, E-Plus is the third largest mobile network operator in Germany. In 2006 and 2007 it was also the fastest growing and most profitable mobile provider. Initially E-Plus was a single brand with a broad package of high-quality services, simple and competitively priced. Since 2005 the E-Plus Group has been operating several brands: BASE (voice and internet for a fixed monthly sum), Simyo (only SIM cars), Ay Yildiz (for the Turkish community), Vybemobile (lifestyle – telephony and music) and numerous partnerships with companies outside and within the telecom world. These new providers have resulted in 7.6 million new customers in barely two years.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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