Phoenix Tower finalizes acquisition of Cellnex operations in Ireland

Phoenix Tower International (PTI), based in Boca Raton, Florida, has finalized its acquisition of the Irish operations of Cellnex Telecom for approximately 971 million euros. The deal, initially announced on March 5, 2024, positions PTI as the largest tower owner in Ireland, highlighting its commitment to advancing telecommunications infrastructure within the country. This acquisition aligns with PTI's strategic expansion in Europe, emphasizing its dedication to improving connectivity for both the Irish population and mobile network operators in the region. The deal is expected to provide substantial benefits, bolstering PTI's role as a prominent telecom site provider in Europe and other regions where it operates over 29,000 telecom towers. Financial and legal advisement for PTI during the acquisition was provided by Nomura and Arthur Cox, respectively. Founded in 2013, PTI's mission focuses on serving wireless operators globally, backed by investments from notable firms such as Blackstone and Blackrock.