Phoenix Tower International to acquire up to 3,800 towers from WOM in Chile

Boca Raton, FL, July 5, 2022 - Phoenix Tower International (“PTI”), through its local Chilean subsidiary, Phoenix Tower International Chile SpA, today announced it has executed a definitive agreement with WOM S.A. (“WOM”) to acquire up to 3,800 telecommunications sites in Chile. As part of the transaction, PTI will acquire approximately 2,334 tower sites at the initial closing and 1,466 additional sites by 2024 for a total consideration of approximately $930M, a portion of which will be paid upon transfer of the additional sites.

After accounting for this transaction, PTI will become the largest communications tower owner in Chile, expanding its global presence to over 22,000 towers in 19 countries.

“PTI is excited to enter the wireless infrastructure market in Chile. We have strong relationships with all four Mobile Network Operators in the country, each of which will be deploying 5G networks in the near term. We are proud of our partnership with WOM and the continued expansion of the relationship that this transaction represents,” said Dagan Kasavana, CEO of PTI.

“This transaction further solidifies PTI’s global footprint and is a fantastic next step for our customers, employees and investors at Blackstone,” said Tim Culver, Executive Chairman of PTI.

“This deal enables WOM to strengthen our focus to provide affordable, easy–to-access, world-class connectivity to all Chileans and will allow us to fulfill our promise to deliver the best service at fair prices. It also enables us to strengthen our investment in Chile, particularly expanding 5G coverage from Arica to Punta Arenas over the next several months, as well as expanding coverage into rural areas of the country by delivering upgraded connectivity and contributing to a reduction of the digital gap,” said WOM CEO, Sebastian Precht.

“We are proud of our company in Chile and this transaction is a significant milestone for WOM and demonstrates the value that has been created. It also brings more financial resources to strengthen our position in the region. We are pleased to establish an important new relationship with PTI, and its lead investor Blackstone, across the region” says Novator Chairman, Thor Björgólfsson.

The transaction will be funded in part by a financing facility led by Scotiabank and supplemented by PTI’s additional finance providers (affiliates of Caisse de dépôt et placement du Québec and Ares Management Corporation). The equity for the transaction was provided by various Blackstone (NYSE:BX) funds, including those managed by Blackstone’s infrastructure and tactical opportunities businesses.

Greenberg Traurig, LLP, Simpson Thacher & Bartlett, LLP, Choate Hall & Stewart, LLP and Barros Silva Varela & Vigil Abogados Limitada acted as legal advisors to PTI. Scotiabank acted as sole lead arranger, bookrunner and exclusive financial advisor to PTI. Allen & Overy and Albagli Zaliasnik acted as legal advisors to WOM. Citi acted as exclusive financial advisor to WOM.

The initial closing of the transaction is expected to occur in Q3 2022 subject to the satisfaction of customary closing conditions.

About Phoenix Tower International

Pro forma for pending transactions, PTI, through its affiliates and subsidiaries, owns and operates over 22,000 telecom towers throughout Europe, the United States, Latin America and the Caribbean.

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 and various members of the management team and is headquartered in Boca Raton, Florida. For more information, please visit

About WOM

WOM is a mobile telephony and broadband company belonging to the international investment fund Novator. Its name derives from the English acronym for Word of Mouth, representing the desire to speak and say what many do not dare, thus revolutionizing the telecommunications industry in Chile. Since its arrival in Chile in 2015, WOM has grown from 1% to >20% market share passing 7 million customers.



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