BOSTON -- American Tower Corporation (AMT) today announced that it has entered into a definitive agreement with KPN’s German subsidiary, E-Plus, under which American Tower will acquire over 2,000 KPN tower sites in Germany for an agreed upon purchase price of approximately €393 million. The transaction is expected to close in the fourth quarter of 2012, subject to customary closing conditions.

“We are pleased to announce the launch of our operations in Germany via our acquisition of sites from KPN,” said Jim Taiclet, Chairman, President, and Chief Executive Officer of American Tower. “With over one hundred million subscribers and its significant growth in wireless data demand, Germany represents the largest wireless market in Europe and an attractive complement to our overall international portfolio mix and expansion strategy. We believe these sites represent a compelling investment for American Tower with strong day one cash flows and an opportunity to drive future collocation in a stable, growing wireless market.”

American Tower Corp. (NYSE: AMT)