SBA Communications (NAS: SBAC) has commenced operations in Brazil by buying 800 towers, the company announced in an official press release. The mobile telecom infrastructure firm paid 362.8 million reals ($174 million) for its new assets from what it termed "one of the leading broadband wireless carriers" in the country. The Wall Street Journal named the seller as Vivo, a subsidiary of Telefonica Brasil (NYS: VIV) .
SBA said that the towers will bring in roughly 19 million to 23 million reals ($9 million-$11 million) in tower cash flow for calendar 2013, and "be immediately accretive to [adjusted funds from operations] per share."
The company funded its acquisition from cash and a revolving credit facility.
The article SBA Communications Launches Brazil Operations, Acquires 800 Towers originally appeared on Fool.com.Eric Volkman has no positions in the stocks mentioned above, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.