Phoenix Tower completes the acquisition of Cellnex's business in Ireland

BOCA RATON, Fla., Feb. 28, 2025 /PRNewswire/ -- Phoenix Tower International (PTI) and Cellnex Telecom have closed the agreement, announced on 5 March 2024, under which PTI has acquired 100% of Cellnex's business in Ireland for approximately €971 million.

The acquisition will make PTI the largest owner of towers in Ireland and underscores Phoenix Tower International's commitment to fostering connectivity in country and contributing to the enhancement of the country's telecommunications infrastructure. This strategic transaction is poised to bring substantial benefits to both the Irish population and Mobile Network Operators (MNOs) operating in the region.

Dagan Kasavana, CEO of PTI, said, "We are delighted to have completed this strategic transaction which represents a significant step forward in Phoenix Tower International's expansion in Europe. 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 were happy to work with the professionals at Cellnex and the Irish regulatory authorities to consummate this transaction."

Nomura and Arthur Cox acted as advisors to PTI.

About Phoenix Tower International

PTI will, pro forma for this transaction and contracted deployments, own and operate over 29,000 telecom towers throughout Europe, the United States, Latin America and the Caribbean. In Europe, PTI is present in several countries including France, Italy, Ireland, Germany, Malta and Cyprus.

PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the world in high-growth markets. PTI's investors include funds managed by Blackstone, Wren House, Blackrock, Grain Management, USS and various members of the management team and is headquartered in Boca Raton, Florida. For more information, please visit www.phoenixintnl.com

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SOURCE Phoenix Tower International