AP NEWS
Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

Phoenix Tower International enters agreements to acquire 1,408 towers in Ecuador and 1,046 towers in Colombia from Telefonica

December 23, 2019 GMT
Phoenix Tower International - LOGO
Phoenix Tower International - LOGO

BOCA RATON, Fla., Dec. 23, 2019 /PRNewswire/ -- Phoenix Tower International (“PTI”) announces 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 the transaction in Ecuador, 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 and reinforces PTI’s position as a leading tower company in Colombia and strengthened 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 4-G 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.

About Phoenix Tower International

Phoenix Tower International (“PTI”), the largest private tower company in the Americas, owns and operates over 8,000 towers, 986 km of fiber and over 80,000 other wireless infrastructure and related sites in fourteen countries located across the Americas and Europe.

PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the world in high-growth markets. PTI’s investors include funds managed by Blackstone Tactical Opportunities and John Hancock, as well as various members of the management team. For more information, please visit www.phoenixintnl.com.

View original content to download multimedia: http://www.prnewswire.com/news-releases/phoenix-tower-international-enters-agreements-to-acquire-1-408-towers-in-ecuador-and-1-046-towers-in-colombia-from-telefonica-300979102.html

SOURCE Phoenix Tower International