International telecoms tower management giant, Phoenix Tower International, has acquired Eir’s portfolio of tower infrastructure. The Irish operator is expected to receive €300 million ($330 million) for its assets.
As part of the deal, Phoenix Tower International will acquire 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.
"This transaction allows us to accelerate the rollout of our expanded 4G and 5G networks and increases Eir's capacity to further invest in our mobile network," said Eir CEO Carolan Lennon.
"It will help us deliver the best mobile experience for all our customers across Ireland, enabling more efficient infrastructure rollout in the future to further increase geographic coverage."
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 9,000 towers across the world, along with 80,000 other telecoms sites.