Phoenix Tower and Monaco Telecom partner up

11 May 2021

Phoenix Tower International (PTI) and Monaco Telecom have joined forces to operate new towers sites across Mediterranean island nations Cyprus and Malta.

The two companies will purchase over 815 existing wireless towers as well as acquiring newly built wireless towers over six years via a build-to-suit programme.

“With this latest transaction, PTI continues to expand its presence across  Europe  and will demonstrate the neutral host independent tower model in two new markets to facilitate increased coverage expansion for all of the wireless operators and ultimately increased connectivity for the population of  Malta  and  Cyprus,” said Dagan Kasavana, chief executive officer of Phoenix Tower International. “As the economies of the world continue to recover from the impacts of Covid-19,  Phoenix  is proud to be working with the mobile network operators across the world to deploy more coverage solutions and is pleased to partner with Monaco Telecom on this transaction.”

PTI and Monaco Telecom have also established a long-term tenancy agreement where the latter will occupy the sites for a minimum of 20 years.  On completion, this transaction will position  PTI  as the largest tower infrastructure provider in both markets, as well as significantly expanding its footprint in  Europe.

“This transaction allows us to create a strategic partnership in  Cyprus  and  Malta  with a leading international firm, which allows us to accelerate our investment plans on 5G and fibre where we are present,” added Martin Péronnet, CEO of Monaco Telecom.

The deal, for an undisclosed sum, is subject to standard closing conditions.