Phoenix Tower Signs Agreement with Monaco Telecom to Own, Operate Sites across Malta, Cyprus

Phoenix Tower International and Monaco Telecom announced the signing of a definitive agreement to purchase more than 815 wireless towers and acquire newly constructed wireless towers over 6 years across Malta and Cyprus through a build-to-suit program.

This transaction positions Phoenix as the largest tower infrastructure provider in both markets materially expands its growing footprint in Europe and further solidifies the company’s leadership position.

Closing is subject to customary conditions precedents for this type of transaction. Phoenix and Monaco Telecom have established a long-term partnership whereby Monaco Telecom will occupy the sites for at least 20 years.

“With this latest transaction, PTI continues to expand its presence across Europe and will demonstrate the neutral host independent tower model in two new markets to facilitate increased coverage expansion for all of the wireless operators and ultimately increased connectivity for the population of Malta and Cyprus.,” stated Dagan Kasavana, CEO of Phoenix Tower International.

Martin Péronnet, CEO of Monaco Telecom said, “This transaction allows us to create a strategic partnership in Cyprus and Malta with a leading international firm, which allows us to accelerate our investment plans on 5G and fiber where we are present.”