American Tower to buy 2,500 Mexican towers from Telefonica subsidiary

US-based American Tower has reportedly entered into a definitive agreement to acquire around 2,500 towers from Pegaso PCS, the Mexican subsidiary of Spanish telecoms giant Telefonica, for up to USD500 million. According to Cellular News, American Tower expects to acquire the bulk of the towers before the end of this year, subject to the deal receiving regulatory approval. ‘We continue to strengthen our relationship with Telefonica, and this acquisition nearly doubles our portfolio in Mexico and provides us with a highly desirable network of sites in this key market. We believe that our experienced local management team will secure strong growth on these towers as our customers in Mexico deploy new spectrum and next generation wireless technologies,’ said James Taiclet, chairman, president and CEO of American Tower of the deal.