Last Updated on Tuesday, 9 March, 2021 at 8:37 pm by Andre Camilleri
Epic Communications Limited today announces that it has entered into an agreement with Phoenix Tower International (PTI) for the sale of the entire share capital of M.T. Mediterranean Towers Limited, its fully owned mobile telecom infrastructure management company in Malta.
This passive mobile infrastructure essentially encompasses metallic and concrete elements such as towers and masts. Epic will retain full ownership and management of the Epic base stations, antenna and all telecom-related active equipment that is typically located on such infrastructure; which equipment is critical for the company to offer its core services to its end consumers.
Epic and PTI will enter into a long-term service agreement for the provision of hosting services over the infrastructure as well as the construction of new sites through a build-to-suit programme, securing long-term access by Epic to such infrastructure.
Tamas Banyai, Chief Executive Officer of Epic Communications Limited, said: “This transaction helps us continue to provide the best network together with great value in Malta, by accelerating our investment plans which target modernizing our mobile network including the future rollout of 5G and expanding our service portfolio in fixed services, as well. As a leading international company, PTI is the best possible partner to help us on this mission, with their extensive experience in passive infrastructure management in North and South America, France, Italy and Ireland.”
Under the same transaction, Phoenix Tower International will also acquire the passive mobile telecom infrastructure of Epic Cyprus. The total sites portfolio of both Epic Cyprus and Malta will be 815 sites at closing. The transaction is subject to customary conditions precedent for this type of transaction and is expected to close by the end of 2021.