Phoenix Tower International to acquire 3.2k sites in France from Cellnex Telecom.

Phoenix Tower International, a firm that owns and operates wireless infrastructure sites, agreed to acquire 3.2k sites in France from Cellnex Telecom, an operator of wireless telecommunications and broadcasting infrastructures. Financial terms were not disclosed. “The agreements achieved with PTI as well as with PTI’s and its JV partner Bouygues Telecom have been the levers that allow Cellnex to meet the conditions required by the French Competition Authority after completing the acquisition of Hivory last October. Both agreements reinforce the rationale of the business model based on the neutral and independent management of telecommunications infrastructures and therefore represent a further step in the consolidation of this model in France and Europe," Àlex Mestre, Cellnex Deputy CEO.