Phoenix Tower International acquires Latam towers from Telefónica
Phoenix Tower International (PTI) has entered into purchase, sale and master lease agreements with Telefónica over towers in Ecuador and Colombia.
PTI signed a purchase, sale and master lease deal with Telefónica Ecuador for 1,408 tower sites and it has also completed the purchase of 621 towers from Telefónica Colombia, bringing the total number of towers it has in Colombia to 1,046.
"We are honoured to expand our relationship with Telefónica in Ecuador and Colombia and look forward to working closely with them on their ongoing wireless build-out initiatives across the world,” said Dagan Kasavana, chief executive officer of Phoenix Tower International.
“These transactions are exciting for PTI and will allows us to become the market leader in Ecuador, a US dollar-based market with three healthy wireless operators with significant 4G build-out needs in the coming years. The transaction in Colombia solidifies PTI's strong market position with over 1,800 owned towers. Colombia has been a great market for PTI, and we see continued growth from all of the carriers in the coming years.”
The latest transactions, announced in December, expand PTI's footprint in Ecuador and reinforces its position as a leading tower company in Colombia. It has strengthened ties between PTI and Telefónica as they continue to grow their partnership across the region. Pro forma for these transactions, PTI will own and operate over 7,000 towers across Latin America.
PTI is one of the largest private tower company in the Americas. It owns and operates over 8,000 towers, 986km of fibre and over 80,000 other wireless infrastructure and related sites in 14 countries located across the Americas and Europe.