American Tower Corp said it will acquire about 4,500 telecom towers in Brazil and Mexico from NII Holdings Inc for about $800 million. American Tower expects the towers will collectively generate about $149 million in annual revenue, the telecom tower operator said.
American Tower Corporation is a holding company. The Company conducts its operations through its directly and indirectly owned subsidiaries and joint ventures. Shares of AMT traded higher by 1.03% or $0.71/share to $69.70. In the past year, the shares have traded as low as $68.03 and as high as $85.26. On average, 3959880 shares of AMT exchange hands on a given day and today's volume is recorded at 505470.
NII Holdings, Inc. (NII Holdings) is a holding company for the operations of Nextel Communications, Inc. Shares of NIHD traded higher by 2.85% or $0.19/share to $6.86. In the past year, the shares have traded as low as $4.11 and as high as $9.82. On average, 3594570 shares of NIHD exchange hands on a given day and today's volume is recorded at 2963827.
Source
