Digicel sells 451 cell towers in US$90-m deal with Phoenix TowerFriday, September 28, 2018
KINGSTON, Jamaica — Digicel today disclosed that it has sold 451 of its wireless communication tower sites for approximately US$90 million to Phoenix Tower Jamaica Limited, the Jamaican subsidiary of America company Phoenix Tower International LLC (PTI).
In a statement this morning, Digicel said the sale and leaseback arrangement means PTI assumes ownership and management rights of the cell towers and the necessary regulatory approvals and licences have been sought and granted.
Speaking about the deal, PTI CEO, Dagan Kasavana, stated that “This latest transaction between PTI and Digicel deepens our excellent working relationship and strengthens PTI's position as the premier wireless infrastructure provider in the Caribbean. Jamaica is poised for significant wireless growth and data consumption in the years to come and PTI looks forward to helping our Jamaican customers, landlords, and the communities we operate in meet these growing demands successfully.”
Meanwhile, Digicel Group CEO, Alex Matuschka, added that the deal is 'consistent' with future expansion of the business.
“With similar agreements with PTI for sites in El Salvador and the French West Indies, this was the next natural step and we are delighted to be extending our partnership. This move is consistent with our stated intent to divest non-strategic assets and focus on building our business for the future," he said.
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