TIM Closes $803M Sale of Towers to American Tower

7/4/17

By Jason Aycock, SeekingAlpha

TIM Participações (TSU +2.5%) has wrapped the final leg of a tower sale to American Tower (AMT -0.7%), according to its weekend filing.

The transfer of 54 towers in return for 20M Brazilian reais (about $6.05M) marks the sixth and last tranche of a deal originally set to sell up to 6,481 towers.

A total of 5,873 telecom towers were sold by TIM to American Tower for a final aggregate purchase price of 2.65B reais (about $802.6M).

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