AMT Expands Latin American Presence in Colombia

American Tower Corporation AMT announced the launch of operations in Colombia, where it recently entered into an agreement to purchase the exclusive rights for use of 458 wireless communication tower sites from Telefonica S.A.'s Colombian subsidiary, Colombia Telecomunicaciones, Oppenheimer reports. The new market launch is consistent with the company's strategy in other emerging markets (e.g., Mexico, Brazil, India, Chile, Peru) to exploit the opportunities of new spectrum buildouts and upcoming auctions. AMT is well on track to drive international revenues to 25% of the top line (from about 21% including Essar), according to Oppenheimer.