{
  "docId": "019dd923-622c-750b-8b96-1aee342c3a73",
  "docSlug": "10dc4f9f3e31",
  "documentTitle": "American Tower (AMT)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2013-07-17 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 70,
  "pageCount": 118,
  "prevPage": 69,
  "nextPage": 71,
  "slideType": "appendix_disclosure",
  "function": "cite_precedent",
  "density": "balanced",
  "nDataPoints": 6,
  "notes": "The slide consists of four distinct paragraphs detailing specific regulatory disputes and legal precedents affecting AMT's infrastructure portfolio, followed by a list of footnotes.",
  "elementsJson": [
    "paragraph",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b96-1aee342c3a73/70",
  "deckHref": "/decks/019dd923-622c-750b-8b96-1aee342c3a73",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b96-1aee342c3a73.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-1aee342c3a73#slide-70",
  "components": [
    {
      "bbox": {
        "h": 0.18,
        "w": 0.72,
        "x": 0.14,
        "y": 0.21
      },
      "kind": "paragraph",
      "text": "Bharti Airtel, India’s largest carrier and a customer of AMT, has sought Telecom Minister Kapil Sibal’s intervention on a penalty of Rs 650 crore (approx. US$100 million) being imposed on the company by the Department of Telecom.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1c8ad99c-effc-48ba-a49a-85741f4a28ea",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.18,
        "w": 0.72,
        "x": 0.14,
        "y": 0.45
      },
      "kind": "paragraph",
      "text": "In the past few years, new laws in India, Brazil, Chile, and Colombia established set backs for cell phone towers from public buildings... The 2012 Chilean law was to be applied retroactively and requires telecom and tower operators to remove towers.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "25f9548d-e527-4352-9be9-89214d3e5c32",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.72,
        "x": 0.14,
        "y": 0.68
      },
      "kind": "paragraph",
      "text": "More recently in Colombia, a ruling made by the Supreme Court required a tower managed by American Tower under its “use of economic rights” agreement with Telefónica is to be decommissioned and moved.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3affbb1a-8d7c-480a-a436-85ebc7844938",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.72,
        "x": 0.14,
        "y": 0.09
      },
      "kind": "paragraph",
      "text": "applies only to subsequent build outs, and does not affect the infrastructure already in existence. At issue for AMT is the fate of 500 towers purchased from Telefónica Moviles Colombia for approximately US$72.8 million.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e20a0aa4-5f0b-45bd-95df-ee108ff17fb9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"The regulator found this service to be customer friendly and in compliance to the license conditions. While our service had passed the test of the regulator, the DoT is reportedly likely to impose penalty on us without any opportunity of personal hearing.\" — Bharti Airtel CEO",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-e6f0-72b6-8696-412e7fe2a1a1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.72,
        "x": 0.14,
        "y": 0.79
      },
      "kind": "source-note",
      "text": "137-141 Footnotes detailing sources for the legal cases described.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b037065f-6a74-4b74-bfc1-acef9d45d062",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}