PTI to acquire 3,200+ towers from Cellnex Telecom

PTI to acquire 3,200+ towers from Cellnex Telecom

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Phoenix Tower International (PTI) is to acquire a total of more than 3,000 telecoms towers from Cellnex Telecom in France.

Broken into two separate transactions, PTI has entered into a definitive agreement with Cellnex Telecom to acquire 1,226 telecoms sites in densely populated areas in France, adding SFR as a PTI MNO client in France.

The second deal will see PTI with its joint venture partner Bouygues Telecom, acquire a further 2,000 sites in densely populated areas.

"With these transactions and our recent closing of more towers in the French West Indies, PTI expands its presence in France, one of the most dynamic telecom markets in Europe," said Dagan Kasavana, CEO of PTI.

"PTI's growth will continue facilitating coverage deployments for all French wireless operators across the country. We are pleased to have collaborated with the professionals at Cellnex on this transaction."

Both transactions are subject to approval from the French Competition Authority and include remedies that followed Cellnex' acquisition of Hivory last year.

These latest transactions along with PTI's previously announced build program with Bouygues Telecom, will see the company own and operate over 5,000 sites in France and making it one of the largest independent wireless infrastructure providers in the country.

"These various transactions continue to strengthen PTI's commitment to France and the European Market," said Tim Culver, executive chairman of PTI.

"We are excited to enhance our relationship with Bouygues Telecom and expand the independent tower model in France which will be a catalyst for improved coverage for all carriers."

In related news, January saw Blackstone Infrastructure Partners buy a 35% stake in Phoenix Tower International from Manulife Investment Management.

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