Phoenix Tower International buys 3,800 telecom towers in Chile

Phoenix Tower International (PTI), through its local Chilean subsidiary, Phoenix Tower International Chile, has announced the closing of an agreement with WOM to acquire up to 3,800 telecommunications towers in Chile.

Publicado Wednesday, July 13th 2022
Phoenix Tower International buys 3,800 telecom towers in Chile

The operation will be divided into two phases: 2,334 will be transferred this year and the remaining 1,466 in 2024.

With this transaction, PTI will become the largest owner of communication towers in Chile, expanding its global presence to more than 22,000 towers in 19 countries.

“We have strong relationships with the country's four mobile network operators, each of which will deploy 5G networks in the short term. We are proud of our partnership with WOM and the continuous expansion of the relationship that this transaction represents," PTI CEO Dagan Kasavana told Diario Financiero.

“This is the largest telecom tower transaction in Chile's history. PTI is a world leader in this area and we believe that its participation will contribute to making the telecommunications industry in our country more efficient, "said Jorge Vigil, partner of Barros Silva Varela & Vigil, the firm that acted as legal counsel for the transaction together with Greenberg Traurig, Choate Hall & Stewart and Simpson Thacher & Bartlett.

Barros Silva Varela & Vigil’s team was led by partners Jorge Vigil and Francisco Varela, and who were assisted by the director of the firm’s regulatory area, Carolina Matthei.

Albagli Zaliasnik acted as counsel to WOM with a team led by partners Álvaro Rosenblut and Rodrigo Albagli, assisted by director Antonio Rubilar and Associate Macarena Waidele.

In the financial field, the transaction will be partly covered by a financing line led by Scotiabank and complemented by additional PTI financing providers, affiliated with Caisse de dépôt et placement du Québec and Ares Management Corporation.

The capital for the transaction was provided by several Blackstone funds, including those managed by Blackstone's infrastructure and tactical opportunity businesses