Phoenix Tower International, an owner and operator of wireless infrastructure sites, agreed to acquire TowerTel, an owner and operator of telecommunications towers, from EI Towers, a tower company operating in the communication infrastructure sector, and F2i, an independent infrastructure fund manager. As part of the agreement F2i has elected to retain a minority ownership stake in TowerTel. Financial terms were not disclosed. Completion is subject to customary regulatory approval. "PTI is excited to enter into Italy's vibrant wireless market and serve its premier wireless operators. We look forward to expanding the revenue on this portfolio, developing new towers and investing in next generation solutions on behalf of our customers. This exciting transaction further expands our growing global footprint and allows us to continue to serve the wireless infrastructure needs of our clients," Dagan Kasavana, Phoenix Tower International Chief Executive Officer.