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American Tower to Acquire Indian Tower Assets from Idea, Vodafone for $1.2 Billion

American Tower Corp. (AMT) has agreed to acquire the Indian tower assets of Vodafone India and Idea Celluar (532822.IN) for USD1.2 billion.

The deal will give American Tower, a global REIT with a portfolio of approximately 149,000 communications sites, an additional 20,000 towers. The transactions are are expected to generate approximately $320 million in property revenue and $120 million in gross margin during their first full year, American Tower said in a press release.

Jim Taiclet, American Tower’s Chief Executive Officer stated, “We expect the addition of these two high quality portfolios to be highly complementary to our existing assets and to contribute to long-term leasing growth as India’s leading mobile operators accelerate their 4G network deployments.”


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