GP Investments to pay USD250m for 2,000 mobile towers

2 Oct 2012

Brazilian private equity group GP Investments is buying approximately 2,000 mobile telephone towers from an as yet unnamed telecom operator in Brazil for BRL503 million (USD250 million), CellularNews reports. Going forward, the new towers will be managed by a new operating company, BR Towers, which will derive the bulk of its revenues from leasing assets, including the towers themselves, to other carriers. Commenting on the purchase, GP Investments’ joint CEO Antonio Bonchristiano said that his firm was keen to enter a market with such high growth potential.