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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.
Telefonica SA (TEF) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
American Tower Corp (NYSE:AMT): 5G Infrastructure Stock Bullish Ahead of Q2 Results profitconfidential.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from profitconfidential.com Daily Mail and Mail on Sunday newspapers.