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American Tower Closes $500M Deal in Mexico; Looks for Expansion in India

American Tower Closes $500M Deal in Mexico; Looks for Expansion in India Image Credit: ATC

American Tower Corp (ATC) announced the closing of its acquisition of KIO Networks’ subsidiary in a transaction worth approximately $500 million.

KIO Networks' subsidiary holds more than 50,000 concrete poles and approximately 2,100 route miles of fiber, primarily located in Mexico’s key urban centers. Headquartered in Mexico City, KIO’s infrastructure network also comprises data centers located across technology campuses in Mexico, Central America and Spain.

ATC has recently signed an agreement with Indian operators Vodafone and Idea Cellular to acquire their mobile tower assets in a $1.2 billion deal. With this acquisition, ATC will become second largest standalone mobile tower company in the country with a portfolio of 80,000 towers.  ATC plans to continue to look at acquisition opportunities in the Indian market.

Hal Hess, American Tower's EVP and President, EMEA and Latin America
We are pleased to close this transaction, which we expect not only to enhance the value of our existing tower portfolio in Mexico, but also to better position American Tower to capture a larger share of future urban 4G network densification efforts and the eventual rollout of 5G.

Sergio Rosengaus, CEO, KIO Networks 
We look forward to continue growing the telecommunications industry in Mexico hand in hand with American Tower.

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

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