American Tower to acquire assets of NII
American Tower signed an agreement with NII Holdings to purchase 535 communication towers in Mexico for an aggregate of $100 million. In the deal, American Tower has agreed to provide up to 250 additional cell sites to NII Holding’s incremental network build-out. According to terms of the deal, 100 of those sites must be co-locations on American’s existing towers.
The balance of the 150 cell sites, if not co-located on American’s towers, will be part of a build-to-suit program that is expected to be completed over the next three years.
The transaction is expected to close in stages, with the first set for later this year.