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Stock Market & Financial Investment News

News Breaks
June 25, 2014
08:53 EDTSBACSBA expands Brazil operations by acquiring 1,641 additional wireless sites
SBA Communications announced that it has entered into a definitive agreement with certain subsidiaries of Oi SA and its affiliates, under which SBA will acquire 1,641 wireless sites in Brazil. Upon closing of the transaction, Oi will enter into a long-term lease with SBA, with monthly lease payments, for antenna space on each of these sites. The sites currently have 1.4 tenants per site and include leases with all of the major wireless carriers in Brazil. The transaction, subject to customary closing conditions, is expected to close by year end 2014. This transaction was exclusively negotiated and is on terms and conditions similar to SBA's acquisition of 2,007 sites from Oi, which transaction closed March 31. The consideration to be paid by SBA for the 1,641 sites will be approximately $527M. SBA expects to fund the purchase price from cash on hand and existing revolver capacity. SBA anticipates that the sites will contribute approximately R$125.7M of cash leasing revenue and R$74.2M of tower cash flow to SBA's results for full year 2015. SBA anticipates that the transaction, upon closing, will be immediately accretive to AFFO per share. Upon consummating this transaction, SBA will own or have use rights with respect to approximately 7K sites in Brazil.
News For SBAC From The Last 14 Days
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May 13, 2015
12:42 EDTSBACAnalyst 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.

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