Specifically, the two will purchase over 815 existing wireless towers as well as acquiring newly built wireless towers over 6 years via a build-to-suit program.
"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 Dagan Kasavana (pictured), chief executive officer of Phoenix Tower International.
“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."
In addition, PTI and Monaco Telecom have established a long-term tenancy agreement where Monaco Telecom will occupy the sites for a minimum of twenty years.
Once completed, this transaction will position PTI as the largest tower infrastructure provider in both markets, as well as significantly expanding its footprint in Europe.
"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 fibre where we are present," added Martin Péronnet, CEO of Monaco Telecom.
The deal is subject to standard closing conditions.
November saw Highline do Brasil, the tower company owned by Digital Colony acquire Phoenix Tower do Brasil. Adding 2,500 new sites to Highline’s existing portfolio of 700 infrastructure assets, to take the total to 3,200.
