BOCA RATON, Fla., Oct. 18, 2021 /PRNewswire/ -- Phoenix Tower International ("Phoenix") and Outremer Telecom today announced they have entered into an exclusivity agreement regarding the acquisition by Phoenix of 203 wireless towers, together with newly constructed wireless towers over 10 years across the French West Indies through a build-to-suit program. The foregoing transaction would expand and solidify Phoenix's leadership position as the largest tower infrastructure provider in the market with over 437 towers and grow its footprint across Europe and the Caribbean. The transaction will be subject to customary conditions precedents for this type of transaction. It would result in Phoenix and Outremer Telecom establishing a long-term partnership whereby Outremer Telecom would occupy the sites for at least twenty years.
"With this transaction, PTI would continue to expand its presence across European territories and its disciplined investment strategy. The increased presence of PTI, a neutral host independent tower company, in the region would facilitate increased coverage expansion for all wireless operators and ultimately enhanced connectivity for the population of French West Indies. PTI is proud to be working with the mobile network operators across the world and is pleased to have entered into advanced discussions with the Altice Group on this transaction", stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.
"I am enthusiastic about the prospect of creating a new tower partnership in the French West Indies. Phoenix Tower International would be a long-term partner of the highest quality who shares our vision to invest in leading infrastructure", stated Mathieu Cocq, Chief Executive Officer of Outremer Telecom.
Phoenix, through its subsidiaries, owns and operates over 14,000 towers, 986 km of fiber and over 80,000 other wireless infrastructure and related sites throughout Europe, the United States, Latin America and the Caribbean.
Phoenix was founded in 2013 with a mission to be a premier site provider to wireless operators across the Americas in high-growth markets. Phoenix's investors include funds managed by Blackstone Tactical Opportunities and John Hancock, as well as various members of the management team. For more information, please visit www.phoenixintnl.com.
Choate Hall & Stewart and Dentons acted as legal advisors to PTI.
Outremer Telecom provides integrated fixed telephony, mobile telephony, and Internet access services for residential and business customers in Martinique, Guadeloupe and French Guiana.
Created in 1986 under the name Infotel, the group was renamed with its current name in 2000. The group was listed on the Paris stock exchange in 2007. The Altice group acquired Outremer Telecom in 2013. Following the acquisition of SFR by Altice, Outremer Telecom now operates under the SFR brand.
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SOURCE Phoenix Tower International