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Friday, November 21, 2014

Telecom Italia likely to sell Brazil towers to American Tower-sources, (NYSE: AMT)

Telecom Italia will likely sell the mobile phone towers of its Brazilian unit to American Tower Corp for almost the full targeted amount of 900 million euros ($1.1 billion), two sources familiar with the situation told Reuters. According to one of the sources, a deal has already been worked out and could be announced at a Telecom Italia board meeting on Friday.

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 0.16% or $0.16/share to $100.81. In the past year, the shares have traded as low as $75.65 and as high as $101.46. On average, 2028470 shares of AMT exchange hands on a given day and today's volume is recorded at 1401021.