US telecoms infrastructure management firm, Phoenix Tower International, has made an offer to purchase Italian firm, EI Tower’s, portfolio of telecoms towers, for a reported $615 million.
A report in The Economic Times of India, claimed that the US based firm has now entered into exclusive, formal talks with EI Towers, over the possible acquisition.
EI Towers, which is 60 per cent owned by Italy’s F2I infrastructure fund and 40 per cent owned by Italian broadcaster Mediaset, owns and operates a portfolio of roughly 1,000 telecoms towers across Italy.
Neither side has officially commented on the reports of the acquisition.
Phoenix Towers International has already completed a number of acquisitions in European markets this year.
Last month it acquired Eir’s portfolio of tower infrastructure, with the Irish operator expected to receive around $330 million for its assets.
As part of the deal, Phoenix Tower International acquired 100 per cent of the shares in Eir’s mobile telecom infrastructure management wing, Emerald Towers.
Eir will retain ownership of its associated antennae and base stations and will negotiate a deal to lease back access to the towers themselves, according to a report in The Irish Independent newspaper.
In March, French telecoms operator Bouygues agreed a deal with Phoenix Tower International to build 4,000 new wireless towers in rural areas of France. The deal will see the towers being deployed over the course of the next 12 years. Coupled with today’s announcement in Ireland, this represents a flurry of activity in Europe for the US based firm.
Phoenix Tower International now manages a portfolio of over 10,000 towers across the world, along with 80,000 other telecoms sites.