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  "documentTitle": "American Tower (AMT)",
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      "text": "We also understand that Reliance will be paying INR15k per month compared to AMT and Bharti Infratel’s INR30-35k per month, which demonstrates the effect of pricing pressure.",
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      "text": "It does not appear that the 3G roll out has had any substantial impact on revenues... The Indian government sold license to too many carriers for the market size which has led to fierce competition...",
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      "text": "The tower market in Indian is in the worst shape in years... Based on a recent article, AMT value the transaction at US$50,000 to US$58,000 per tower, which compares to tower values of US$100,000 to US$120,000 at the peak of the market before 2011.",
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      "text": "Turn for the Worst",
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