Telefonica, one of the largest telephone operators and mobile network providers in the world, with a strong presence in Europe and the Americas, is to sell a number of its towers and tower sites in Ecuador and Colombia.
US company Phoenix Tower International (PTI) has announced that it has entered into a purchase and sale agreement and master lease agreement with Telefonica Ecuador for 1,408 tower sites in Ecuador. In addition to the transaction in Ecuador, PTI has completed the purchase of 621 towers in Colombia from Telefonica Colombia for a total of 1,046 towers in 2019.
The latest transactions expand PTI's footprint in Ecuador and, the company adds, reinforces its position as a leading tower company in Colombia, strengthening ties between PTI and Telefonica as they continue to grow their partnership across the region. Pro forma for these transactions, PTI will own and operate over 7,000 towers across Latin America.
“We are honoured to expand our relationship with Telefonica in Ecuador and Colombia and look forward to working closely with them on their ongoing wireless build-out initiatives across the world,” stated Dagan Kasavana, chief executive officer of PTI. He also underlined the opportunities for PTI in Ecuador, described as a “USD-based market with three healthy wireless operators with significant 4G build-out needs in the coming years”. In addition he pointed out that the transaction in Colombia solidifies PTI's strong market position, with over 1,800 owned towers.
Founded in 2013, Phoenix Tower International is the largest private tower company in the Americas; it owns and operates over 8,000 towers, 986 km of fibre and over 80,000 other wireless infrastructure and related sites in fourteen countries located across the Americas and Europe.