American Tower to buy Global Tower in $4.8 billion deal

American Tower Corp said it would buy MIP Tower Holdings LLC, the parent of telecom tower operator Global Tower Partners, in a $4.8 billion deal to take advantage of the roll out of 4G wireless networks.

American Tower said it would pay about $3.3 billion in cash and assume about $1.5 billion of debt.

(Reporting by Chandni Doulatramani in Bangalore; Editing by Saumyadeb Chakrabarty)