Phoenix Tower International (PTI) has reached an agreement with US-based Uniti Group to acquire the ownership rights relating to over 500 wireless communication tower sites located across Mexico, Colombia and Nicaragua. The deal is subject to customary closing conditions and is expected to close by 31 March 2019, while the terms of the transaction remain confidential.
TeleGeography notes that PTI has been a proactive player in the LatAm/Caribbean cell tower sector in recent months. Last week the company paid USD100 million in cash for 600 cell towers belonging to Bolivia’s NuevaTel (Viva). Previously, in October 2018 PTI acquired 1,039 cell sites in the Dominican Republic from Altice for USD170 million and sealed a deal to acquire 451 towers from Digicel Jamaica for USD90 million.
Headquartered in Boca Raton, Florida, PTI was founded in 2013 and now owns and manages over 6,000 towers, 986km of fibre and over 80,000 other wireless infrastructure and related sites throughout the US (including Puerto Rico and the US Virgin Islands), Costa Rica, Panama, El Salvador, Guatemala, Colombia, Peru, Mexico, the Dominican Republic, the French West Indies, Jamaica, Argentina, Ecuador and Bolivia.