BOSTON-American Tower Corp. entered into an agreement with TV Azteca S.A. de C.V. in Mexico under which American Tower will loan up to $120 million to TV Azteca in exchange for annual net payments of approximately $13.9 million, plus the rights to all existing and future third-party revenue on approximately 200 towers, American Tower said.
The towers are strategically located throughout Mexico and cover approximately 95 percent of the population, including the cities of Mexico City, Monterrey, Guadalajara, Acapulco and Cancun, American Tower said.
The towers are structurally designed to accommodate additional broadcast antennas and have significant capacity for cellular, personal communications services, microwave backhaul and other telecommunications providers.
Steve Dodge, chairman and chief executive officer of American Tower, said the agreement represents the company’s first significant foray outside the United States.
“With over 100 million people and the second-largest economy in South and Central America, Mexico’s wireless market has strong growth potential, and we plan to continue to look for additional opportunities to expand our presence in this country,” said Dodge.
