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American Tower completes first tranche of Telxius acquisition

American Tower Corporation announced that it has closed the first tranche of the acquisition of Telxius Towers, comprised of nearly 20,000 communications sites in Germany and Spain, for total consideration of approximately 6.2 billion euros ($7.6 billion).

In a release, ATC said that the closing was funded by a combination of cash on hand and borrowings under the company’s revolving credit facilities and term loans.

Approximately 4,000 additional rooftop communications sites in Germany are expected to close in the third quarter of 2021.

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