Blackstone portfolio company Phoenix Tower International Friday announced the closing of an agreement with Bouygues Telecom to develop approximately 4,000 newly constructed wireless towers over 12 years across France outside the Very Dense Area. This transaction expands Phoenix’s footprint in France, and solidifies the company’s leadership position in Europe, the United States, Latin America and the Caribbean.
Phoenix and Bouygues Telecom have established a long-term partnership in the form of a Phoenix-controlled joint venture which will own and operate the sites. Some of the sites will be deployed as part of Bouygues Telecom’s “New Deal Mobile” regulatory obligations of targeted mobile radio coverage improvements, accelerated mobile radio rollouts alongside transportation routes. With attractive size and coverage, the JV is very well positioned as an infrastructure operator of choice in the market.
“We are quite enthusiastic to partner with Bouygues Telecom on such an important and exciting project. We believe the French market is well positioned for significant wireless growth throughout the country as further 4G and 5G deployments are made over the coming years and we are proud of our participation in these deployments,” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.
“Phoenix’s landmark partnership with Bouygues Telecom is consistent with its position as the preferred partner for carriers worldwide,” said Jasvinder Khaira, a Senior Managing Director in Blackstone Tactical Opportunities. “Phoenix will continue to look for creative ways to support the coverage requirements of carriers and usher in the 5G technology revolution across Europe and the Americas.”
Jean Paul Arzel, Head of Network Division, said: “This agreement allows Bouygues Telecom to sustain its efforts in sites deployment in Less Dense Areas and also to meet the New Deal requirements. It will also contribute to considerably strengthen our Mobile network coverage in rural areas.
Natixis and ING acted as financial advisors to Phoenix.
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