PTI is partnering with F2i to acquire TowerTel, giving over 2,400 wireless telecommunications sites across Italy ownership or leasing rights.

Phoenix Tower International ("PTI") today reported that it has gone into a complete concurrence with EI Towers S.p.A ("EIT") to get TowerTel S.p.A. ("TowerTel"), an EIT auxiliary, which possesses or rents, works and oversees around 2,400 media communications towers, circulated reception apparatus frameworks and broadcast communications locales across Italy. Furthermore, TowerTel has selective media communications showcasing and renting rights to in excess of 1,600 transmission locales possessed by EI Towers S.p.A, carrying the complete expected portfolio to in excess of 4,000 destinations in the nation.

As a component of the understanding F2i SGR ("F2i"), one of EIT's investors, has chosen to hold a minority proprietorship stake in TowerTel. Monetary terms of the exchange were not revealed.

"PTI is excited to enter into Italy's vibrant wireless market and serve its premier wireless operators. We look forward to expanding the revenue on this portfolio, developing new towers and investing in next generation solutions on behalf of our customers," stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. He continued, "With small cell deployments, continued 4G and 5G buildouts, significant fixed wireless access and fiber roll-out across the country, we believe that Italy is a fantastic market for PTI.  This exciting transaction further expands our growing global footprint and allows us to continue to serve the wireless infrastructure needs of our clients."

Commenting on the transaction, Renato Ravanelli, Chief Executive Officer of F2i, said; "This investment by PTI testifies to the growing interest by global players in high-quality Italian infrastructure. We are delighted to partner with a leading wireless infrastructure operator with the support of Blackstone, in a sector so important for the overall telecommunication market development."

PTI's monetary counselor was Natixis and its legitimate guide was Freshfields Bruckhaus Deringer LLP. EIT's monetary consultant was Nomura and its lawful counselor was Chiomenti Studio Legale.

About Phoenix Tower International
PTI owns and operates over 12,500 towers, 986 kilometers of fibre, and other wireless infrastructure and related sites across 16 countries in the United States, Europe and Latin America.  PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across high-growth international markets.  PTI's investors include funds managed by Blackstone, John Hancock, and various members of the management team and is headquartered in Boca Raton, Florida.