Phoenix Tower International (PTI) announced that it has entered into a purchase and sale agreement and Master Lease Agreement with Telefonica Ecuador for 1,408 tower sites in Ecuador. In addition to this transaction, PTI has completed the purchase of 621 towers in Colombia from Telefonica Colombia for a total of 1,046 towers in 2019.
The latest transactions expand PTI’s footprint in Ecuador, reinforce PTI’s position as a leading tower company in Colombia and strength ties between PTI and Telefonica 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.
“We are honored to expand our relationship with Telefonica in Ecuador and Colombia and look forward to working closely with them on their ongoing wireless build-out initiatives across the world. These transactions are exciting for PTI and will allows us to become the market leader in Ecuador, a USD 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,” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.