Yesterday, AT&T announced that it would invest about $3 billion in Mexico by year end 2018. Jonathan Schildkraut of Evercore ISI noted the firm had been expected an aggressive investment cycle from AT&T following its Iusacell and Nextel Mexico acquisitions. “We estimate that American Tower has roughly 1/3 of the towers in Mexico and any incremental network buildout presents a material opportunity,” Schildkraut wrote.”This investment by AT&T underscores our positive outlook for the region. In our June 1 Evercore ISI TelecomNewsletter “Mexican Plan to Boost Wireless Competition Could be Boon for Towers,” we highlighted the Mexican government’s plan for a wholesale network and the possible upside from a likely AT&T investment cycle. With AT&T committing to spending $3 billion, we believe American Tower will benefit. Continue reading here.
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