Canadian Investor Buying Up Aussie Telco Towers
As the great telco towers sell off continues, one Canadian player will soon become the third biggest towers owner, and is looking to buy more.
Canadian pension fund investor OMERS has struck a A$950 deal to acquire TPG Telecom’s 1237 mobile towers, which includes 809 rooftop towers, and 428 stand-alones.
Now the fund is apparently in talks to acquire Stilmark, a telco towers investor who own 70 towers, as well as a 30-strong management staff who would aid in further acquisition.
18 months ago, OMERS and Stilmark teamed up for Symphony Consortium, with the aim of acquiring towers assets. A takeover would see the Canadian investor strike out alone.
The TPG Telecom deal is scheduled to complete in the September quarter, while the acquisition talks are said to be in early stages.