Latin American banking giant Bradesco announced it is investing about $50.25 million (R$ 100 million) of its private equity funds to become a partner of GP Investments in tower management company BR Towers.
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BR Towers was created last year following the acquisition of 2,000 mobile telephone towers from Vivo for about $250 million (R$503 million). With a total capital commitment ranging from $90 million to $164 million, the company aims to become the leading owner and operator of mobile telephone towers in Brazil. Currently, American Tower leads the Brazilian market.
According to local reports, BR Towers has also incorporated Sitesharing, which manages 100 telephone towers leased to operators.
In addition to BR Towers, the P2 Brasil fund, a joint venture formed by Pátria Investimentos and Grupo Promon, announced late last year a new startup, Highline do Brasil. The company is focused on providing sites and distributed antenna system infrastructure to carriers, and is headed by Alexandre Braga, the former Brazilian head of American Tower.
