Phoenix Tower International (PTI), a global telecom tower operator, has announced a deal to buy Cellnex Telecom’s business in Ireland, which includes about 1,700 mobile telecom sites and 200 land locations. The deal will boost PTI’s presence and growth in Ireland, as well as improve the country’s telecom infrastructure and services. PTI expects the transaction to bring significant benefits to the Irish people and the mobile network operators in the region.
Nomura and Arthur Cox advised PTI on the deal, while Barclays, Santander and Matheson advised Cellnex. PTI, which operates over 29,000 telecom towers across Europe, the US, Latin America and the Caribbean, has a strong footprint in several European countries such as France, Italy, Germany, Malta and Cyprus.
“We are delighted to announce this strategic transaction with Cellnex after a successful transaction in France which signifies a significant step forward in Phoenix Tower International’s expansion in Europe,” commented Dagan Kasavana, CEO of PTI. “This acquisition demonstrates our commitment to Ireland, and we are eager to contribute to the development of robust and advanced telecommunications infrastructure that will benefit both the Irish people and our valued Mobile Network Operator partners. We appreciated the Cellnex team’s constructive approach and hard work to sign this transaction.”
Cellnex CEO Marco Patuano stressed that “the sale of our business in Ireland – at an appropriate valuation – is one further step within the company’s ‘Next Chapter’, in line with our strategy, to achieve the goal of consolidating, simplifying our corporate structure and focusing our efforts in the existing growth opportunities in the main markets in which we operate. We want to recognize PTI’s readiness and swift decision-making and look forward to closing the deal on due time.”
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