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Stock Market & Financial Investment News

News Breaks
June 11, 2014
07:26 EDTSBAC, CCI, TSU, AMTBR Towers joins Brazilian firms in $4B tower sale increase, Bloomberg says
Brazilian companies are approaching U.S. tower operators to solicit offers for more than $4B in wireless assets being sold in three different auction processes, according to Bloomberg, citing people with knowledge of the pending transactions. BR Towers, Grupo TorreSur and Tim Participacoes (TSU) are all looking to divest towers in separate agreements valued at more than $1B each. BR Towers is pitching the sale of its assets to American Tower (AMT), Crown Castle (CCI), and SBA Communications (SBAC). Reference Link
News For AMT;CCI;SBAC;TSU From The Last 14 Days
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May 19, 2015
07:43 EDTSBACJPMorgan to hold a conference
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May 15, 2015
17:15 EDTTSUPaulson & Co. gives quarterly update on stakes
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May 14, 2015
08:34 EDTCCICrown Castle to sell Australian subsidiary for about $1.6B in cash
Crown Castle International announced that it has signed a definitive agreement to sell its Australian subsidiary, CCAL, to a consortium of investors led by Macquarie Infrastructure and Real Assets for an aggregate purchase price of approximately $2.B in cash, or approximately $1.6B assuming an exchange rate of 0.80 U.S. dollars to 1.0 Australian dollar. CCAL is 77.6% owned by Crown Castle. Upon consummation of the Transaction, Crown Castle expects to receive net proceeds of approximately $1.3B after accounting for its ownership interest, repayment of intercompany debt owed to it by CCAL and estimated transaction fees and expenses. The Transaction is expected to close during Q2. Crown Castle expects to use the net proceeds from the Transaction to finance its previously announced acquisition of Sunesys and for general corporate purposes, including the repayment of certain of its indebtedness. CCAL was expected to contribute approximately $97M-$102M to Crown Castle's previously provided full year 2015 Outlook for Adjusted EBITDA of $2.15B-$2.16B. Further, CCAL was expected to contribute approximately $58M-$63M to Crown Castle’s previously provided FY15 Outlook for Adjusted Funds from Operations of $1.45B-$1.47B, respectively.
May 13, 2015
12:42 EDTCCI, AMT, SBACAnalyst bullish on tower companies after meeting with American Tower
American Tower's (AMT) outlook has improved, and it should report strong 2016 results, research firm Pacific Crest wrote in a note to investors earlier today. American Tower owns towers used by cell phone carriers. WHAT'S NEW: After hosting a non-deal roadshow with American Tower, Pacific Crest analyst Michael Bowen said he had an "increasingly positive outlook" on the company in particular and the cell phone tower sector in general. Carrier tower applications rose last quarter, versus the second half of 2014, Bowen quoted American Tower and its peers as saying. This increase appears to bode well for the sector's performance in the second half of 2015 and 2016, according to Bowen, who expects American Tower to have strong 2016 results. The analyst predicts that American Tower's adjusted funds from operations, or AFFO, will increase about 9% in 2015 and 10.6% in 2016. However, the company estimated that its AFFO growth "could approach" mid-teen percentage levels if it decides not to acquire any more towers, according to Bowen. Additionally, American Tower reported that it believes it can eventually more than double the nearly 18,000 towers it owns in Brazil, Bowen reported. The analyst recommended that investors buy the stock. PRICE ACTION: In early afternoon trading, American Tower was flat at $93.56. Other tower owners were also little changed, as Crown Castle (CCI) was flat at $83, and SBA Communications (SBAC) added 0.7% to $116.21.
07:16 EDTAMTMoffett Nathanson to hold a summit
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07:11 EDTAMTAmerican Tower outlook has improved, says Pacific Crest
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