American Tower Acquires Towers in Germany

November 15, 2012

American Tower announced today that it will acquire over 2,000 tower sites in Germany for €393 million through a definitive agreement with KPN’s German subsidiary, E-Plus, according to a press release. The transaction is expected to close in the fourth quarter of 2012.

“We are pleased to announce the launch of our operations in Germany via our acquisition of sites from KPN,” said Jim Taiclet, Chairman, President, and CEO of American Tower. “With over one hundred million subscribers and its significant growth in wireless data demand, Germany represents the largest wireless market in Europe and an attractive complement to our overall international portfolio mix and expansion strategy. We believe these sites represent a compelling investment for American Tower with strong day one cash flows and an opportunity to drive future collocation in a stable, growing wireless market.”