Phoenix Tower International (PTI) has struck a deal with Iliad to build up to 1,900 new telecom towers for the telco in Italy.
The build-to-suit (BTS) agreement noted PTI will target the deployment of the sites in densely and averagely densely populated areas, and expands Phoenix's European presence.
According to PTI, the plans will enable Iliad to expand its 4G and 5G mobile network.
Founded in 2016 as an Italian subsidiary of French telco Iliad Group, Iliad Italia has grown its subscriber base to more than 10 million.
PTI said it will offer Iliad long-term access to these sites under preferred conditions.
“We are thrilled to enter into this strategic partnership with Iliad in Italy, a dynamic and innovative player in the telecommunications sector,” said Dagan Kasavana, CEO of Phoenix Tower International.
“This transaction is perfectly aligned with our European growth strategy and enables us to strengthen our footprint in Italy. We look forward to supporting Iliad Group’s continued success and growth in this market and others.”
PTI operates more than 29,000 telecom towers across 23 countries in North America, Europe, Latin America, and the Caribbean.
Earlier this year, the company secured a strategic investment from Grain Management and BlackRock.
In March, PTI agreed to acquire Cellnex's Irish business unit for €971 million ($1.08bn). As part of the planned acquisition, PTI will snap up around 1,900 towers.
Last year, Florida-based PTI acquired almost 2,000 more urban sites in France following the closing of two deals, and separately entered an agreement to enter the German market.
Completion of the deal is subject to customary regulatory conditions.
