Phoenix Tower International has agreed to acquire up to 3,800 telecommunications sites in Chile from WOM SpA. The deal includes approximately 2,334 tower sites at the initial closing and 1,466 additional sites by 2024 for a total consideration of approximately $930 million, 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.
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