Phoenix Tower International (PTI) has announced it has entered an agreement with Cellnex Telecom to acquire 100% of Cellnex’s business in Ireland. The transaction will expand PTI’s Irish business by adding approximately 1,700 mobile telecom sites and approximately 200 land locations that accommodate third-party wireless sites.
The acquisition underscores Phoenix Tower International’s commitment to fostering growth in Ireland and contributing to the enhancement of the country’s telecommunications infrastructure. This transaction is poised to bring substantial benefits to both the Irish population and Mobile Network Operators (MNOs) operating in the region.
“We are delighted to announce this strategic transaction with Cellnex after a successful transaction in France which signifies a significant step forward in Phoenix Tower International’s expansion in Europe,” said Dagan Kasavana, the CEO of PTI. “This acquisition demonstrates our commitment to Ireland, and we are eager to contribute to the development of robust and advanced telecommunications infrastructure that will benefit both the Irish people and our valued Mobile Network Operator partners. We appreciated the Cellnex team’s constructive approach and hard work to sign this transaction.”
Cellnex CEO Marco Patuano said “The sale of our business in Ireland – at an appropriate valuation – is one further step within the company’s ‘Next Chapter’, in line with our strategy, to achieve the goal of consolidating, simplifying our corporate structure and focusing our efforts in the existing growth opportunities in the main markets in which we operate. We want to recognise PTI’s readiness and swift decision-making and look forward to closing the deal on due time.”
Nomura is serving as exclusive financial advisor and Arthur Cox is serving as legal counsel to PTI. Barclays and Santander are serving as financial advisors and Matheson is serving as legal counsel to Cellnex.
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