SBA Communications buys 800 towers from Brazil's Vivo for $175m

SBA Communications Corp.) acquired 800 freestanding wireless towers in Brazil from Telefonica's Brazilian subsidiary Vivo S.A. for 362.8 million Brazilian reals, or roughly $175 million, as it launched its operations in the South American country.

"We are excited to begin operations in Brazil," Chief Executive Jeffrey A. Stoops said."This acquisition provides us with a national footprint of high quality towers, including leasing arrangements with all of the major broadband wireless providers, and establishes us as a substantial independent tower owner in an attractive and high growth market."

SBA, which owns and operates wireless communications infrastructure in North and Central America, inked two much larger tower deals earlier this year. It bought Mobilitie LLC, another tower company, in April for $1.09 billion, and in October completed its purchase of more than 3,200 cell tower sites from privately held TowerCo for $1.45 billion in cash and stock.

The Telefonica acquisition, which was completed last Thursday, is expected to produce about BRL19 million to BRL23 million--or $9 million to $11 million--in tower cash flow for 2013. The deal will be paid for through the company's cash on hand and borrowing from its revolving credit facility.

SBA Communication's shares closed Monday at $70.74 and were inactive premarket. The stock has risen consistently through 2012, and is up 65% since the start of the year.

Source: http://www.totaltele.com/view.aspx?ID=478558

anchorman sequel safety not guaranteed lifehouse al gore la dodgers lawrence o donnell magic johnson