BOCA RATON, Fla., Aug. 31, 2023 /PRNewswire/ -- Phoenix Tower International (PTI), a global leader in wireless infrastructure, is proud to announce a significant milestone - in the expansion of its business in France.
PTI successfully closed two transactions today with respect to 1,978 sites strategically located in very dense urban areas across France.
The closings include the acquisition of 1,226 sites hosting SFR through a subsidiary 100% owned by PTI, and the expansion of Phoenix France Infrastructures 2, a subsidiary of PTI, through the addition of 752 sites hosting Bouygues Telecom.
This achievement marks a crucial step in PTI's commitment to expand in France and supporting the MNOs in their ever-growing demand for reliable connectivity in densely populated regions.
Taking into account the recent acquisitions, along with its previously announced build program, PTI will own over 3,600 sites in France and is on track to own and operate over 5,000 sites within the two years, making PTI one of the largest independent wireless infrastructure providers in the country, which, after accounting for the closings, makes France PTI's largest market across the 21 markets it is present in globally, based on number of sites.
"With these transactions, PTI diversifies its portfolio across France with sites located all over the country, including major cities to better serve the populations with strong wireless connectivity. France is one of the most dynamic telecom markets in Europe and PTI's growth will continue facilitating coverage deployments for all French wireless operators across the country. We are pleased to have collaborated with the professionals at Cellnex, Bouygues Telecom and SFR on these transactions," stated Dagan Kasavana, CEO of PTI.
"These various transactions continue to strengthen PTI's commitment to France and the European Market. We are excited to continue to expand our relationship with our customers and pursue the implementation of our business model in France which will be a catalyst for improved coverage for all carriers," said Tim Culver, Executive Chairman of PTI.
Freshfields Bruckhaus Deringer and Natixis acted as advisors to PTI.
About Phoenix Tower International
PTI, through its subsidiaries, will, pro forma for these transactions, own and operate over 22,000 telecom towers throughout Europe, the United States, Latin America and the Caribbean. In Europe, PTI is present in several countries including France, Italy, Ireland, Malta and Cyprus.
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, Wren House and various members of the management team and is headquartered in Boca Raton, Florida. For more information, please visit www.phoenixintnl.com