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American Tower Corporation to acquire 962 Towers in Uganda
American Tower Corporation has announced that it expects to complete the acquisition of 962 towers in Uganda, in early May.
During the first quarter of 2012, the Company completed the acquisition of 35 towers in the US and acquired 800 towers in Brazil from a wireless service provider.
Subsequent to the end of the first quarter of 2012, the Company completed the acquisitions of 55 towers in Mexico and expects to complete the acquisition of 962 towers in Uganda, in early May.
The Company currently expects to complete its acquisition of up to approximately 350 towers in Mexico and up to approximately 800 towers in Colombia, prior to the end of 2012.
Jim Taiclet, American Tower's Chief Executive Officer stated that due to the unique global reach of the company, American Tower is positioned to benefit from strong secular trends in wireless telecommunications in both the US and around the world. As a result of robust first quarter performance and recent acquisition activities, the company has increased the midpoint of the full year 2012 outlook for rental and management revenue, Adjusted EBITDA and AFFO growth to over 16%, 14% and 11%, respectively.
Furthermore, the company is currently committed to deploying over $1.5 billion of capital during 2012, which includes spending on the annual company capital expenditure program and on acquisitions under contract today, as well as regular distributions.
American Tower Corporation expects that these disciplined investments will support the internal goal of generating double digit annual AFFO growth.
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