American Tower is expanding its operations into Chile.
A subsidiary of the publicly traded company, ATC Sitios de Chile S.A., has launched operations there and entered into agreements to purchase up to 287 wireless communication tower sites from Telefónica Chile S.A.
“The company purchased 113 of these tower sites, on which Telefónica Chile S.A. is the anchor tenant, at an initial closing on June 29, 2010, and expects to close on the remaining sites by the end of 2010, subject to customary closing conditions,” it stated.
"Consistent with our strategy to expand within select Latin American countries, our launch of operations in Chile extends our presence into a vibrant wireless market where recent spectrum auctions are expected to drive investment in network expansion by existing wireless carriers as well as new entrants," stated the company’s top exec Jim Taiclet.
American Tower owns 27,000 communication sites in the United States, Mexico, Brazil, Chile and India.