American Tower Continues LatAm Purchases

American Tower, a US telecommunications infrastructure operator, continued its LatAm buying spree after agreeing to acquire 558 telecommunications transmission towers from Telefonica Moviles Chile, with their respective maintenance facilities, for CLP49.2bn ($95.7m). Telefonica Moviles Chile will continue using those facilities for its operations under a leasing agreement signed with American Tower’s local subsidiary ATC Sitios de Chile. Neither American Tower nor Telefonica Moviles could be reached for comment. The Chilean deal comes less than a month after American Tower acquired 2,500 telecom towers in Mexico, in a $500m deal with Pegaso PCS, also a unit of Spain’s Telefonica. The company used its own internal M&A group for the Mexican acquisition and no advisors were hired at the time.