Phoenix Tower International (PTI), through its local Chilean subsidiary, has signed an agreement with WOM, a mobile telephony and broadband company belonging to the international investment fund Novator, to acquire up to 3,800 telecommunications sites in Chile.
PTI will acquire 2,334 tower sites at the initial closing and 1,466 additional sites by 2024 for a total consideration of $930 million, a portion of which will be paid upon transfer of the additional sites. After the transaction, PTI will become the largest communications tower owner in Chile, with a global presence of more than 22,000 towers in 19 countries.
“PTI is excited to enter the wireless infrastructure market in Chile,” said Dagan Kasavana, CEO of PTI. “We have strong relationships with all four mobile network operators in the country, each of which will be deploying 5G networks in the near term. We are proud of our partnership with WOM and the continued expansion of the relationship that this tra
