LONDON, UK / ACCESSWIRE / July 20, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for American Tower Corp. (NYSE: AMT) ("ATC"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=AMT. Millicom International Cellular, S.A. announced on July 18, 2017, that pursuant to an agreement its subsidiary, Colombia Movil S.A. E.S.P., has agreed to sell about 1,200 wireless communications towers to a subsidiary of American Tower in Colombia. Under terms of the transaction, Colombia Movil, also known as Tigo, will receive about $147 million in cash post the execution of the transaction. For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AMT. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=AMT

The Announcement

Pursuant to the definitive agreement, Tigo and ATC will collaborate where ATC will lease to Tigo wireless communications towers to support its wireless networks. The specific number of towers and final purchase price will be determined post various closings, which is subject to customary closing conditions and regulatory approvals.

Millicom International is a leading provider of cable and mobile services, dedicated primarily to emerging markets in Latin America and Africa. Tigo views Colombia as the biggest operational market in Latin America, where it has a strong focus on bringing advanced infrastructure and services to the customers. This agreement follows the Paraguay transaction that was announced in April 2017, where under the new agreement, the Company expects to enhance its operational and capital efficiency, while also allowing the Companies to invest in improving the connectivity experience for customers.

Company Revenue Stream

ATC generates a majority of its revenues from long-term tower leases with major wireless carriers. The Company currently operates more than 40,000 cell sites as part of its 150,000 or so tower properties worldwide. In FY16, the Company earned 41% of its $5.79 billion revenue from international operations, an increase of 32% YOY from FY15, where the Latin American contribution stood at 17%, while Asia amounted to 14%.

Company Growth Prospects

American Tower Corporation is the largest independent communications tower operator in the US but is also an international business with towers in India, Germany, France, Brazil, Mexico, and other nations. The Company's real estate portfolio includes about 148,000 communication sites, where it plans to expand on the skyrocketing demand for mobile data.

Prior to the announcement, on July 11, 2017, Mexico's Axtel, the telephone unit of Alfa, announced that it had reached a deal to sell towers to a subsidiary of American Tower for $56 million. Axtel stated in a filing with the Mexican Exchange that it had reached a deal with MATC Digital to sell the American Tower Unit 142 phone towers, in a deal expected to close by the end of 2017. Also, according to the statement, Axtel agreed to rent the tower for 15 years.

CEO of ATC, Jim Taiclet stated on June 28, 2017, that he expects international revenue to top US sales in three to seven years as the Company expands further into Asia and Europe through acquisitions.

Taiclet stated that:

"We want to create significant revenues from strategic operations in democratically governed regions around the world."

He also commented that initially, the Company plans to deepen its position in the anchor markets, and eventually, enter the adjacent markets.

Last Close Stock Review

American Tower's share price finished yesterday's trading session at $135.42, marginally down 0.56%. A total volume of 2.76 million shares has exchanged hands, which was higher than the 3-month average volume of 1.88 million shares. The Company's stock price surged 8.62% in the last three months, 28.15% in the past six months, and 15.38% in the previous twelve months. Additionally, the stock rallied 28.14% since the start of the year. Shares of the Company have a PE ratio of 65.39 and have a dividend yield of 1.89%. The stock currently has a market cap of $57.86 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily