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American Tower touts expanded European footprint

Jul 29, 2021 7:21pm
In August American Tower expects to close on about 4,000 remaining rooftop sites in Germany. (Pixabay)
American Tower is focused on its expanded European presence, having closed most of its Telxius Towers acquisition from Telefónica in the second quarter.
The U.S.-based tower company spent $8.8 billion to acquire more than 27,000 sites, including around 20,000 in Germany and Spain, and over 7,000 in Brazil, Peru, Chile, and Argentina. There are still about 4,000 remaining rooftop sites in Germany that are expected to close in August.
During Thursday’s second-quarter earnings call, American Tower CEO Tom Bartlett highlighted underlying wireless market trends in both Germany and Spain, which help add confidence that the portfolio will deliver positive financial results.

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