Digicel sells hundreds of cell towers in US$90 million deal

Telecommunications company Digicel 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.

Digicel announced the deal in a statement this morning.

“The necessary regulatory approvals and licences have been sought and granted,” the company said.

Digicel says the sale and leaseback arrangement means Phoenix assumes ownership and management rights of cell towers.

Speaking about the deal, Phoenix CEO, Dagan Kasavana, stated; “This latest transaction between Phoenix 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.”

Commenting on the agreement, Digicel Group CEO, Alex Matuschka, said; “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."

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