Tower One Wireless (TO.C) expanded its market share when the company announced today that one of its Argentinian subsidiaries had secured a letter of intent (“LOI”) with a major mobile operator for a Master Lease Agreement (“MLA”).
According to the news release, the LOI is from one of the four top mobile network operators in Argentina and grants Tower One’s subsidiary 50 search ring areas. Once signed, the MLA will make Tower One’s subsidiary a national provider of cell towers to this MNO.
Today’s MLA makes two for the company in the country as this LOI falls on the heels of the company’s May 23, 2017 announcement that it had entered into an agreement to purchase 65% of the issued and outstanding shares of a private Argentinian Tower Company which brought the first MLA on board.
Tower One CEO, Alex Ochoa, commented, “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.”
The mobile device market in Latin America is exploding with the amount of people using their mobile devices expected to grow by 50% by the end of the decade. In a statement made by the Minister of Communications, Oscar Aguad, predicted that new regulatory reform could lead to US$20.0 billion telecom infrastructure investments over the next four years.