American Tower recently closed the Latin American tranche of its Telxius Towers acquisition, comprised of over 7,000 communications sites in Brazil, Peru, Chile and Argentina, for total consideration of $1.1 billion.

Tom Bartlett, CEO, American Tower, said: “With Telefonica as anchor tenant partner and opportunities for colocation as 4G and 5G deployments accelerate, we expect to drive strong, sustainable long-term growth and attractive returns in the region while helping to enhance mobile broadband connectivity for hundreds of millions of people.”

American Tower expects these assets to generate approximately $70 million in property revenue and approximately $40 million in gross margin for the balance of 2021, and to be immediately accretive to Consolidated AFFO per Share.