Phoenix Tower Completes Strategic Acquisition of Cellnex Business in Ireland

In a significant development in the telecommunications landscape, Phoenix Tower International (PTI) has finalized its acquisition of Cellnex Telecom's business operations in Ireland. This move, announced on March 5, 2024, marks a pivotal moment for PTI as it gains complete ownership of Cellnex’s assets in the region for an impressive sum of approximately €971 million.

With this acquisition, PTI has become the largest tower owner in Ireland, reinforcing its commitment to enhancing connectivity across the nation. The strategic nature of this deal is set to yield substantial benefits for both the Irish populace and the mobile network operators (MNOs) operating in the area. Dagan Kasavana, the CEO of PTI, expressed his enthusiasm saying, “We are thrilled to have completed this strategic transaction which represents a major step forward in PTI’s expansion across Europe. This acquisition showcases our commitment to Ireland, and we look forward to contributing to the development of a robust and advanced telecommunications infrastructure that will benefit both the Irish people and our esteemed mobile network operator partners.”

The acquisition aligns with PTI’s mission since its establishment in 2013, which aims to be a premier site provider for wireless operators in high-growth markets. This strategic move is expected not only to improve the telecommunications landscape in Ireland but also to stimulate economic growth and enhanced communication services.

PTI’s expertise is apparent in its current operations, which encompass more than 29,000 telecommunications towers across Europe, the United States, Latin America, and the Caribbean. The company’s presence in Europe spans multiple nations including France, Italy, Germany, Malta, and Cyprus, highlighting its extensive network and operational capability.

Furthermore, the transaction between PTI and Cellnex was facilitated by advisory firms Nomura and Arthur Cox, ensuring a smooth and strategic transition. The backing from distinguished investors such as Blackstone, Wren House, Blackrock, and Grain Management underlines PTI’s robust financial standing and ongoing commitment to the telecommunications industry, positioning it well for future growth.

This acquisition is not just a business transaction but an initiative that underscores the increasing importance of telecommunication infrastructure in today’s digital age. As the demand for connectivity continues to surge, the role played by companies like PTI will prove essential in shaping the landscape of digital communication not only in Ireland but throughout Europe and beyond.

As PTI moves forward following this acquisition, stakeholders and industry observers will be keenly watching how it enhances its service offerings and expands its market presence. The future indeed looks promising for Phoenix Tower International as it forges ahead in the competitive telecommunications marketplace.

For more information about PTI and its expansive portfolio, visit www.phoenixintnl.com.