SBA Communications Buying Brazil Cellphone Towers
SBA Communications (SBAC) has agreed to buy more than 2,000 cellphone towers in Brazil from Grupo Oi for $645 million, intensifying its rivalry with American Tower (AMT) to gain assets in the fast-growing wireless market. SBA Communications said it expects the deal to close in the first quarter of 2014. “This transaction pushes SBA Communications’ presence in Brazil to over 5,000 towers (roughly 22% of its portfolio) and is in line with management