American Tower spending big in India
American Tower Corporation has reportedly obtained approval from Indian regulators to proceed with the purchase of approximately 9000 towers from Idea Cellular, at a cost of US$584 million.
The company has been acquiring tower assets around the globe in recent times.
According to American Tower’s 2018 first quarter financial report, “During the first quarter of 2018, the Company spent approximately US$673 million to acquire nearly 10,600 sites primarily in international markets, including approximately 10,200 sites in India as part of its previously announced transaction with Vodafone India Limited.”
The 9000 new towers are in addition to the 10,200 Vodafone India transaction. The company also has plans to acquire more than 700 towers in Kenya.
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