Telecom Italia plans to sell telecommunications towers in Brazil to American Tower Corp for USD 1.1bn
Telecom Italia plans to sell TIM Participacoes’ telecommunications towers in Brazil to American Tower for EUR 900m (USD 1.1bn), a newswire reported, citing two unnamed sources close to the operation.
Reuters said that Telecom Italia may have already reached a deal for the sale, and it may announce it today, 21 November, at its board of directors meeting.
The company plans to sell the towers in Brazil as it is considering other acquisitions in that South American country, the item added.
Telecom Italia’s CEO, Marco Patuano, may tell the company’s board that the company should acquire TIM’s rival in the Brazilian market, Oi, the item added.