Tower One comes out strong with an announcement today of an LOI to acquire a Master Lease Agreement and 50 new search ring areas in Argentina. Argentina is seeing strong growth in the sector, and this transaction turns $TO.C into a game-playing, national provider of cell towers. Tower One builds, owns, and leases a portfolio of wireless infrastructure assets to wireless carriers on long-term contracts.
Alex Ochoa, CEO of Tower One, had this to say: “This is a significant milestone. We are now competing successfully in Argentina against the other publicly traded tower companies, and delivering on our promises to our clients. This LOI sets the stage for rapid growth in Build To Suit Towers (“BTS”) in Argentina. Argentina is forecasting over 5,000 new BTS Towers in the next few years.”
Only a couple days ago Tower One announced the addition of 10 newly acquired towers in Colombia. Experience in these South American countries and moving early into these strong and evolving markets seems to be paying off.
Construction is starting soon, and demand is set to ramp up. Solid newsflow for Tower One.