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Wireless

American Tower closing in on TI's Brazil towers - report

Tuesday 11 November 2014 | 12:20 CET | News
American Tower Corp is in pole position to acquire the mobile phone towers of Telecom Italia's Brazilian unit TIM Brasil for close to EUR 900 million, according to unnamed sources cited by Italian business daily Il Sole 24 Ore. The sale of towers in Brazil was one of the cost-cutting measures announced by Telecom Italia CEO Marco Patuano at the end of 2013 as part of a wide-ranging plan to bring down the company's EUR 28 billion debt. Telecom Italia, which is working with Morgan Stanley on the sale, is looking to divest around 7,000 of the towers it owns in Brazil. The report indicates that

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Categories: Mobile & Wireless
Companies: Telecom Italia / TIM Brasil
Countries: Brazil / Italy
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