Infrastructure provider Phoenix Tower International has agreed to acquire up to 3,800 sites from WOM Chile for a total consideration of USD930 million. The acquisition includes 2,335 tower sites at the initial closing and 1,466 additional sites by 2024. The transaction is expected to close in Q3 2022 and is subject to customary closing conditions.
Commenting on the sale, WOM CEO Sebastien Precht was quoted as saying: ‘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 fulfil 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.’