Phoenix completes tower purchases in Malta and Cyprus

Phoenix Tower International (PTI) has finalised its acquisition of mobile towers from Monaco Telecom subsidiaries in Malta and Cyprus. Under a deal announced in March, Monaco Telecom’s units Epic Malta and Epic Cyprus have sold over 830 towers to Phoenix, while Monaco Telecom will acquire newly constructed towers over six years through a build-to-suit programme for its local subsidiaries. Epic Malta and Epic Cyprus will utilise the Phoenix infrastructure under a 20-year leaseback agreement. With these latest transactions, Phoenix owns and operates 4,285 wireless infrastructure tower sites across Europe in Ireland, France, Italy, Malta and Cyprus. Commsupdate