American Tower will acquire privately held rival Global Tower Partners (GTP) in a deal valued at USD4.8 billion, following a deal with MIP Tower Holdings, the private real estate investment trust which currently owns it. The latter owns and operates approximately 5,400 domestic towers and 800 domestic property interests (under third-party communications sites) in the US, and has the management rights to over 9,000 domestic sites, which are primarily rooftop assets. GTP also owns 500 communications sites in Costa Rica. However, American Tower did not acquire GTP’s assets in Mexico as part of the deal. American Tower has indicated that the deal will increase the size of its US portfolio by 25%, giving a significant advantage to carriers keen to continue their LTE deployments. American Tower currently owns and operates over 56,000 communications sites in the US, Brazil, Chile, Colombia, Germany, Ghana, India, Mexico, Peru, South Africa and Uganda.
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