UPDATE 2-American Tower subpoenaed by SEC, shares fall

* Subpoena request tax accounting documents

* Shares fall 8 pct

(Adds detail, background, updates share movement)

June 3 (Reuters) - American Tower Corp (AMT.N) said it received a subpoena from the U.S. States Securities and Exchange Commission requesting documents related to its tax accounting and reporting, among others documents.

The wireless-tower operator is expected to convert itself into a REIT to benefit under U.S. tax laws, to use its depreciation losses incurred on tower assets as a shield against tax obligations. [ID:nSGE6820IB]

Last month, the company said it will start the process of reorganizing into a REIT no earlier than Jan 1, 2012 and will make a related distribution of profits to stockholders in the fourth quarter of 2011.

The wireless-tower operator said the regulator subpoenaed the company on June 2 requesting documents from 2007 through the present.

American Tower intends to cooperate fully with the SEC on this matter, it said in a regulatory filing.

The company could not be immediately reached for a comment.

Shares of the Boston, Massachusetts-based company, which fell 8 percent after the market opened, were down 5 percent at $51.89 in early morning trade on the New York Stock Exchange.

(Reporting by Sayantani Ghosh in Bangalore; Editing by Jarshad Kakkrakandy)

((sayantani.ghosh@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: sayantani.ghosh.reuters.com@reuters.net)) Keywords: AMERICANTOWER/

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