Phoenix Tower International to acquire 1.3k mobile tower sites from Liberty Latin America for $355m.

Phoenix Tower International, a site provider to wireless operators, agreed to acquire 1.3k mobile tower sites from Liberty Latin America, a communications company, for $355m. "We are pleased to work with a high-quality partner with extensive operating experience in our region in PTI and reach an agreement that crystallizes the value of our mobile tower infrastructure assets. In addition, the long-term lease agreements and ongoing coverage extension will enable us to continue delivering leading mobile services to our customers and support network expansion including future 5G deployment plans across the Caribbean and Latin America, while lowering capital costs associated with these assets. This deal is a great example of our disciplined approach to delivering shareholder value through free cash flow accretive transactions," Balan Nair, Liberty Latin America President and CEO.