Phoenix Tower International and Monaco Telecom signed a definitive agreement to purchase over 815 wireless towers and acquire newly constructed wireless towers over six years across Malta and Cyprus through a build-to-suit program. Phoenix says the deal positions the company as the largest tower infrastructure provider in both markets, expands its growing footprint in Europe, and further solidifies the company’s leadership position. Closing is subject to customary conditions.
Phoenix and Monaco Telecom have established a long-term partnership whereby Monaco Telecom will occupy the sites for at least 20 years.
“With this latest transaction, PTI continues to expand its presence across Europe and will demonstrate the neutral host independent tower model in two new markets to facilitate increased coverage expansion for all of the wireless operators and ultimately increased connectivity for the population of Malta and Cyprus,” said PTI CEO Dagan Kasavana. “As the economies of the world continue to recover from the impacts of COVID-19, Phoenix is proud to be working with the mobile network operators across the world to deploy more coverage solutions and is pleased to partner with Monaco Telecom on this transaction.”
Monaco Telecom CEO Martin Péronnet said, “This transaction allows us to create a strategic partnership in Cyprus and Malta with a leading international firm, which allows us to accelerate our investment plans on 5G and fiber where we are present.”
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