The scope of the agreement also includes newly constructed wireless towers over 10 years across the French West Indies through a build-to-suit program.
"With this transaction, PTI would continue to expand its presence across European territories and its disciplined investment strategy," said Dagan Kasavana, chief executive officer of Phoenix Tower International.
"The increased presence of PTI, a neutral host independent tower company, in the region would facilitate increased coverage expansion for all wireless operators and ultimately enhanced connectivity for the population of French West Indies. PTI is proud to be working with the mobile network operators across the world and is pleased to have entered into advanced discussions with the Altice Group on this transaction."
One completed, the deal will support Phoenix's leadership position as the largest tower infrastructure provider in the market with over 437 towers as well as to grow its footprint across Europe and the Caribbean.
The transaction is subject to customary conditions and will result in Phoenix and Outremer Telecom forming a long-term partnership in which Outremer Telecom would occupy the sites for at least twenty years.
"I am enthusiastic about the prospect of creating a new tower partnership in the French West Indies," said Mathieu Cocq, chief executive officer of Outremer Telecom.
"Phoenix Tower International would be a long-term partner of the highest quality who shares our vision to invest in leading infrastructure."
In related news, July saw PTI close its agreement with Monaco Telecom to purchase over 830 wireless towers, for an undisclosed sum.
With the transaction now complete, Phoenix is now the largest tower infrastructure provider in both Malta and Cyprus and the long-term partnership created with Monaco Telecom, will see the operator occupy the sites for at least twenty years.
