Goldman, Petria and six other firms are investing in five Brazilian tower builders as operators including Tim Participacoes and Telefonica Brasil shift from building their own towers to contracting it out, said Bloomberg.
Operators will seek bids to build about 3,900 towers this year, said the report, citing forecasts from one of the builders.
Companies that plan to build towers in Brazil include Fishman Group-backed T4U Tower Management, QMC Telecom International Holdings, which is backed by Peterson Partners and Housatonic Partners and Cell Site Solutions, which secured an investment from Goldman last year.
Other companies include Highline do Brasil, which raised BRL300m ($123m) from Blackstone-backed Patria.
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