American Tower Increases Footprint in Africa With Eaton Towers Acquisition
Consistent with its strategy to participate in emerging-market wireless network build-outs throughout the world, American Tower announced an agreement to acquire Eaton Towers and its 5,500 wireless towers in five African markets, adding to the company's portfolio in Ghana, Uganda, and Kenya and bringing new markets in Burkina Faso and Niger. Management expects the deal to close by the end of 2019.American Tower is paying $1.85 billion and projects the tower portfolio to generate $165 million i...
American Tower is a holding company. Through its subsidiaries, the company is a real estate investment trusts and an independent owner, operator and developer of multitenant communications real estate. The company's primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. The company also provides tower-related services, including site acquisition, zoning and permitting and structural analysis, which primarily support the company's site leasing business, including the addition of new tenants and equipment on its sites.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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