September 19, 2018 / 2:19 PM / 2 months ago

Brazil regulators approve American Tower purchase of Cemig assets

FILE PHOTO - A telecommunications tower managed by American Tower is seen in Golden, Colorado February 25, 2014. REUTERS/Rick Wilking

SAO PAULO (Reuters) - Brazilian competition authorities have approved American Tower Corp’s (AMT.N) acquisition of telecommunications assets owned by Cia Energetica de Minas Gerais SA (CMIG4.SA), the government’s official bulletin said on Wednesday.

In August, American Tower paid 571 million reais ($138 million) to purchase much of the broadband network operated by Cemig, as the state-controlled utility is known.

($1 = 4.14 reais)

Reporting by Gram Slattery

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