Boston based antenna operator, American Tower Corporation (ATC), generated total revenue of $597.2 million in the second quarter of 2011 during its global operations, according to its second quarter 2011 financial results released on August 2, 2011.
The managers of about 1,876 MTN Ghana transmission towers through its subsidiary, ATC Ghana Limited, said revenue increased by 27.1%.
According to the New York Stock Exchange listed company, its domestic rental and management segment revenue increased 13.4% to $424.9 million as well as international rental and management segment revenue also increasing by 94.2% to $158.9 million.
Network development services segment revenue was $13.4 million, ATC said.
Jim Taiclet, Chief Executive Officer (CEO) of American Towers said in a statement that “With our successful introduction of the collocation business model into a number of new countries in Africa and Latin America, this strong legacy market performance resulted in a near doubling of our international segment revenue in the second quarter.”
MTN Ghana sold its transmission towers to American Tower Corporation through a joint venture, TowerCo Ghana in December 2010.
TowerCo Ghana was expected to pay as much as $428.3 million to MTN Ghana for the 1,876 transmission towers.
The leading operator and developer of broadcast and wireless communications sites currently owns and operates over 38,000 communications sites in the United States, Brazil, Chile, Colombia, Ghana, India, Mexico, Peru and South Africa.
In Ghana, ATC says it has approximately 2,000 telecommunications sites available for sharing.
By Ekow Quandzie